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Israel natural gas wealth fund gets initial nod

Posted on 24 October 2012

A proposal by Israel’s Finance Ministry to create a sovereign wealth fund similar to Norway’s to safeguard billions of dollars in windfall natural gas revenue received initial approval from a government panel.
The proposal was approved by the ministerial legislative committee but still needs to be passed in parliament, the ministry said on Tuesday. The discovery of some of the world’s largest offshore gas fields has given Israel decades of energy independence and paved the way for it to become a natural gas exporter………………………………………..Full Article: Source


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