March 27, 2016 / 3:45 PM / 4 years ago

Israeli energy minister says court ruling on gas may cause irreversible damage

JERUSALEM (Reuters) - Israel’s energy minister said that the Supreme Court made an “unfortunate decision” on Sunday in blocking a government plan to develop offshore natural gas fields, adding that the move may cause irreversible damage to Israel’s energy sector.

“The decision’s negative consequences on the development of the gas market, on energy security, on the Israeli economy and on the lost revenue for the state of Israel and its citizens, could be very tough, and even irreversible,” Energy Minister Yuval Steinitz said in a statement.

Steinitz said he still hopes the government will find a way to encourage development of the offshore gas fields, and will explore its options in the coming days.

Reporting by Ari Rabinovitch; Editing by Susan Fenton

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