The Israel Electric Corporation (IEC) will be allowed to purchase gas from Egypt and the Palestinian Authority, in addition to using local suppliers, reported Haaretz newspaper.
It said that this would end the monopoly of Israeli suppliers.
Infrastructure and Finance Minister, Avraham Shochat, gave Monday the electricity provider permission to ask the gas suppliers, with which it has been negotiating over the past few months, to submit their financial proposals.
The IEC has been negotiating a 15-year contract for 35 billion cubic meters of gas with Yam Thetis and Isramco (Israeli gas), East Mediterranean Gas (EMG, selling Egyptian gas) and the British firm BG (selling Palestinian gas), according to the paper.
The IEC has already received technical proposals from all three companies, but told the gas suppliers that it would only ask for financial proposals once the government decides whether the electric company is allowed to work with more than one supplier.
The treasury and the infrastructure ministry both stressed that although the IEC has received the green light to buy gas from Egypt and the Palestinian Authority, the company will take into account strategic and national considerations as well, added Haaretz – Albawaba.com
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