VIDEO: After Months of Delay And Controversy, PM Netanyahu Signs Natural Gas Plan

[VIDEO IN EXTENDED ARTICLE]

Prime Minister Binyamin Netanyahu’s natural gas plan has been the subject of much controversy over recent months, with opposition parties insisting the government-approved plan is not in the best interests of the nation. Mr. Netanyahu signed the plan in his capacity as Minister of the Economy, a post vacated by Aryeh Deri.

That being said, the Prime Minister on Thursday 5 Teves signed the plan, making it final. However, opposition leader MK Yitzchak Herzog was quick to announce that his Machane Tzioni party and others remains tenaciously opposed and they plan to exhibit their opposition in the form of a challenge in the Supreme Court.

The Prime Minister however was more than quite pleased, announcing the natural gas “Is a gift from HaKadosh Baruch Hu. It places us as a potential energy superpower, at least an important international force. This plan is important to our economy because it gives us a relatively cheap source of energy”.

Mr. Netanyahu added the deal is important vis-à-vis relations with allies, citing Greece and Cyprus have already signaled in addition to others with whom he hopes to meet with in a few weeks, mentioning Egypt, Turkey and the PA (Palestinian Authority).

Many are counted among the opponents including the powerful Knesset Finance Committee but the Prime Minister decided to move ahead despite these voices of objection. He acknowledging studying the committee’s objections, but decided to move forward nonetheless.

Minister of Energy Dr. Yuval Steinitz praised the deal and called it a great day for the nation.

Herzog and other opponents however insist the deal creates an even more powerful monopoly than the one existing today and the deal may be beneficial to a few counted among the wealthy, but it does not serve the best interests of the nation. The deal gives the ownership to the Israeli Delek Company along with the Texas-based Noble Energy. They already own gas fields supplying energy Israel Electric Company today, hence the fears of the monopoly by the giants.