Informations and abstract
Keywords: Israel; Monopoly; Natural Gas Market; Exemption From Antitrust Laws; Stability Clause; Energy Self-Sufficiency; Pan-Energism.
The recent discovery of Leviathan, a vast natural gas field located in the waters off Israel, created on the one hand the long-awaited opportunity for the Jewish state to achieve the energy self-sufficiency or devote himself to a regional pan-energism, while at the same time raising antitrust concerns in relation to the position of monopoly enjoyed by the consortium exploiting the resource. Indeed, in order to carry out the project, the Israeli Government has made use for the first time in his national history of the opportunity to exempt the consortium from antitrust laws, and has ensured the respect of the regulatory status quo for the whole period needed in order to recoup private investments. After briefly reviewing the history of Israeli competition laws and the reasons behind granting the exemption, this short paper examines the international, national and industry implications stemming from the case.