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Gas to Pump $60 Billion into Economy in 20 Years, Says Lapid

Israel’s new offshore gas industry will generate $60 billion in revenues in Israel over the next 20 years, Finance Minister and Yesh Atid party chairman Yair Lapid told the Knesset in its first day of the winter session Monday.

He charged the Opposition with damaging the economy by placing obstacles to the natural gas hook-up, which Lapid said will help lower the price of electricity and boost employment.

Taxes on gas will allow Israel to lower taxes, he added.

The High Court is to decide on who has the authority to decide how much of the gas can be exported. Several Opposition parties are demanding that Israel retain all of the gas for domestic use. The government has adopted a policy of exporting 40 percent of the gas.

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2 Responses to “Gas to Pump $60 Billion into Economy in 20 Years, Says Lapid”

  1. Yechiel Baum says:

    I am sure someone there will pocket the difference unless carefully monitored.

  2. Israel should never export natural gas (NG), only their products as added value, for example to crack down NG in hydrogen (H2) and carbon (C) as carbon black wich the raw material for tires, paintings, inks, C nano tubes, graphi, graphene, etc:, H2 can be used to produce electricity by spinning turbines and water (H2O).

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