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The Israeli gas industry has undergone tremendous developments in the past decade, due to the discovery of significant natural gas fields in Israeli territorial waters, the largest of which are the Tamar field, estimated at 247 billion cubic meters (“BCM”), and the Leviathan field containing 453 BCM. Currently, the “Mary B” field (20-16 BCM) is the only operative field and it provides, as of 2004, natural gas to the Israeli Electric Company (“IEC”). The recent discoveries produced a fast-growing energy market, such that in 2010, 45% of IEC electricity production was based on natural gas, compared to o% in 2003, and the overall consumption of natural gas increased by 275% between 2004-2009.
Recent announcements regarding the discovery of commercially viable quantities of natural gas in Israel's territorial waters or economic zone in the Eastern Mediterranean Basin have led to significant activities in the Israeli market and considerable interest in oil and gas assets from abroad.
Why Large-scale Infrastructure Projects are bogged down and how to free the Bottleneck. There is a high level of involvement of the courts in daily life in Israel. Almost every large-scale project, even though it may be backed by a plethora of detailed and lengthy contracts drawn up by teams of lawyers, eventually reaches the portals of the courts. An article by Adv. Moriel Matalon, Managing Partner of Gornitzky & Co., Israel.