Israeli Cabinet Approves Deal with Delek, Noble

Israel's cabinet approved by a great majority (17-1) a deal with a Delek Group and Noble Energy for the Leviathan natural gas field off Israel's Mediterranean coast, with Prime Minister Benjamin Netanyahu praising Energy Minister Yuval Steinitz for his efforts that “has led to a very significant reduction in the price the state will pay for gas.” 

“We are overcoming the obstacles step by step.  This process will not be stopped. The gas will be extracted from the bottom of the sea and will reach Israeli citizens, Israeli industry and the Israeli economy - for the benefit of the citizens of Israel” Netanyahu said on Sunday.  

He added that the government’s outline should pass as quickly as possible. 

“Every objective test proves this outline is a significant improvement over the existing situation. But one more thing must be understood – it cannot be stopped” Netanyahu said.

He did not clarify which will be the next steps, also failing to define a schedule for the law.