Leviathan Partners Seek Expanded Concessions Amid Finance Ministry Concerns
Translated & summarized from TheMarker by baba
Partners in the Leviathan gas field, including NewMed Energy, are seeking tax breaks and expanded concession areas for deep-water exploration. The Finance Ministry's Budget Department is pushing back, fearing a "hijacking" of state resources and demanding a unified government approach before any decisions are made.
The story in 4 lines · by baba
- Leviathan gas field partners seek tax breaks and expanded concession areas for exploration.
- NewMed Energy is specifically requesting ownership of potentially undiscovered gas.
- The Finance Ministry's Budget Department opposes the move, citing economic risks.
- Officials fear a "hijacking" of state resources through premature concession grants.
Partners in the Leviathan gas field are seeking to conduct exploration in deeper waters and are requesting tax breaks and preliminary decisions on their concession areas from various government bodies. Specifically, NewMed Energy is asking the state for concessions, including ownership of gas potentially found beyond their current license boundaries.
The Budget Department at the Ministry of Finance is attempting to block this move, fearing a "hijacking" or premature granting of concessions that could have significant economic implications for the state. They are demanding coordinated government action rather than responding to individual company requests and want to prevent any such decision until a unified stance is formed across all relevant ministries.