Gas deal to be signed this week?

February 2, 2014 by J-Wire Staff
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Israeli media has reported that a group of high level Israeli businessmen specialising in the energy area has left Tel Aviv bound for Australia to sign off an a deal which will give Australian energy giant Woodside Petroleum 30% of the rights to Leviathan gas field find.

woodsideMedia have reported that the deal, originally worth US$2.5 billion has grown to $3 billion. The massive gas find lies under the ocean off the coast of Israel.

The Globes report claims that one of final stumbling blocks to be overcome is the position of the Israel Tax Authority which seeks to impose capital gains tax on the deal as soon as it is signed.

The report claims that notwithstanding this problem, the deal will be signed in Australia this week.


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