The Tamar reserve is one of Israel’s two largest natural gas reserves.
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Executives and analysts are questioning whether Israel's energy industry has a future after the country's antitrust chief backtracked on letting a group led by U.S.- based Noble Energy Inc. develop Israel's two biggest natural gas fields. Antitrust Commissioner David Gilo said this week he was reconsidering his March 14 decision to let the partnership retain its stakes in the Leviathan and Tamar reserves if it would sell smaller fields. Gilo said he was considering declaring the consortium a monopoly, a move that may require the owners, including Israel's Delek Group Ltd., to sell one of the fields. Australia's Woodside Petroleum Ltd. already scrapped an agreement in June to buy a stake in Leviathan, citing concerns over the regulatory atmosphere in Israel.Noble is the only foreign energy company to heavily invest in Israeli gas, despite U.S. Geological Survey estimates that the Levant Basin off the country's Mediterranean coast holds about 122 trillion cubic feet of gas, about three times what has been found.said Tadmor, whose company is one of Noble's Israeli partners.
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