Amiram Barkat
The market sees the decision as proof that gas exploration in Israel is not attractive due to restrictions on gas exports.
Italian company Edison, owned by a French group, one of the oldest foreign investors in the Israeli gas exploration market, has closed down its activity in Israel in recent weeks. The market is interpreting the decision as proof that gas exploration in Israel is not attractive and that the restrictions on gas exports imposed by the Tzemach Committee should be eliminated. Government sources argue that the company closed its office because of strategy changes, not because of anything involving the Israeli market.
Edison's office, managed by Octavio Viglione, was active in Israel for five years and was closed two months ago. As far as is known, the company is maintaining its connection with Lavi Capital, managed by former Ministry of Finance director general Yarom Ariav, which provided it with consultation services and representation for years. As of now, Edison is continuing its activity in the Royee license in which it is a partner with Israeli partnership Ratio Oil Exploration (1992) LP (TASE:RATI.L).
Edison's office, managed by Octavio Viglione, was active in Israel for five years and was closed two months ago. As far as is known, the company is maintaining its connection with Lavi Capital, managed by former Ministry of Finance director general Yarom Ariav, which provided it with consultation services and representation for years. As of now, Edison is continuing its activity in the Royee license in which it is a partner with Israeli partnership Ratio Oil Exploration (1992) LP (TASE:RATI.L).
