| From WSJ: Israel hopes to establish its first sovereign-wealth fund with revenues from recent offshore natural-gas finds within one year, the head of Israel's National Economic Office, Eugene Kandel, said on Wednesday. "It's not a fantasy," Mr. Kandel said. "We are working to implement this within the year."
In 2009, a partnership that included Texas Based Noble Energy Inc. and Israeli oil companies discovered Tamar, an offshore gas field containing eight trillion cubic feet of natural gas. It was the largest gas find in the world in 2009 and the largest ever for Israel at the time..............................................Full Article: Source
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