Cabinet Approves Increase in Quantity of Gas for the Israeli Economy

Economy and Tourism
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The Cabinet, today (Sunday, 23 June 2013), approved the decision to increase the quantity of gas for the Israeli economy to 540 billion cubic meters (BCM). From data submitted at the meeting, in 2012, the Israeli economy consumed seven billion cubic meters of gas; thus, even in keeping with forecasts of a significant increase in gas consumption, the quantity will suffice for at least 25 years.
Prime Minister Benjamin Netanyahu said, "The State of Israel has received a gift from nature – gas in vast quantities. Thanks to the decision we made today, every Israeli citizen will enjoy this gift. We will lower the cost of living in the electricity sector via the gas that will flow into the Israeli economy, and we will invest in the public welfare thanks to the profits that will go into the state coffers from gas exports. Any delay in implementing this decision will endanger the state's ability to realize the benefits of our gas resources. Gas must not stay in the ground under layers of bureaucracy and populism."