After months of wrangling, Israel reaches regulatory agreement with developers on natural gas
{{#rendered}} {{/rendered}}Israel says it has reached an agreement with developers on a regulatory framework for its natural gas reserves.
The agreement comes after months of squabbling that began last year when Israel's antitrust commissioner considered designating the American-Israeli partnership that is developing the gas a monopoly.
The deal sets a price ceiling for future sales to Israeli companies and commits the gas firms to complete the development of the country's largest gas field, known as Leviathan, by 2020.
{{#rendered}} {{/rendered}}Israeli Prime Minister Benjamin Netanyahu welcomed the agreement at a press conference on Thursday. The deal will be brought to a Cabinet vote on Sunday.
Critics say the deal bows to the gas firms' demands and does not do enough to protect Israeli consumers.