Scuttled Israel gas deal frustrates US, Israeli developers

Israeli and American energy companies controlling Israel's natural gas say they are dissatisfied with a ruling the day before by Israel's Supreme Court that struck down a government deal to begin pumping from offshore deposits.

David Stover, the chairman of Houston-based Noble Energy, said on Monday that the ruling is "disappointing."

Prime Minister Benjamin Netanyahu had emphatically supported the deal struck between his government and a consortium of gas developers as a path to Israeli energy independence and billions of dollars in revenue.

Critics said the deal gave too much profit to corporations at the public's expense.

The court opposed a clause that would prevent Israel from making significant regulatory changes for the next ten years.

The Israeli Delek Group called Monday on the government to rework the agreement quickly.

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