Jul.11, 2012 | 5:53 AM–The natural gas sector needs appropriate regulation to keep it from becoming a predatory monopoly, said Antitrust Commissioner David Gilo on Tuesday, speaking at a session of the interministerial committee on natural gas exports.

Gilo was responding to attacks from gas companies against increased regulation. “It is important to intervene now,” he said, referring to the contracts between the Israel Electric Corporation and Tamar offshore gas field partners.

In a surprise announcement, the Natural Gas Authority in the Ministry of Energy and Water Resources revealed on Tuesday that it had corrected its calculations and will require natural gas producers to provide more gas for the Israeli economy and leave less to be exported.

The authority added 20%, or some 80 billion cubic meters of gas, to its forecast of Israeli needs through 2040. The authority’s original estimates seem to have relied on overly optimistic figures for energy savings and efficiency measures.

In an attempt to rescue a number of mid-sized and large plants in the periphery because of the shortage of natural gas, the Manufacturers Association and the Finance Ministry will meet to discuss the establishment of a bailout fund…Read More>>

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