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Israel: Israeli vote will not affect upcoming offshore auction - minister

14 Mar 2019

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Israel’s offshore oil and gas licensing auction will go ahead as planned in June regardless of the outcome of the country’s upcoming general elections, Energy Minister Yuval Steinitz said in an interview.

Israelis will head to the polls on April 9 for elections that could unseat Prime Minister Benjamin Netanyahu after five terms, during which the government formed a broader energy policy following a string of major gas discoveries since 2009.

'Israel is committed to the bid round,' Steinitz told Reuters on Tuesday at the CERAWeek by IHS Markit conference in Houston.

'The gas framework was approved by the government, by Parliament, by the Supreme Court and is there to stay,' said Steinitz, a close ally of Netanyahu.

Israel in June will close its second auction for licenses to explore 19 offshore blocks for gas and oil.

For licensing round details, click here: Israel announces 2nd offshore bid round

Click here for full Reuters article

Source: Reuters

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