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First Posted: 4/11/2013 (AP) The head of the American energy company leading natural gas exploration off Israel's coast warns Israel's policies may scare off future investors.
Charles Davidson, chief executive of Texas-based Noble Energy, says Israel's decision to adopt a new taxation policy in 2011, after Noble had already invested $1 billion, was "very unusual." He says potential export partners "were a little bit reluctant because of what had happened on taxes in the past."
Davidson spoke Thursday. He's in Israel to press decision-makers to adopt an export policy soon, to provide clarity for investors. Recommendations from a 2012 government report have not been implemented because Israel only recently formed a new government after elections.
Israel recently began pumping offshore natural gas for domestic use. It is expected to begin exporting later this decade.
<a title="Associated Press" href="http://www.ap.org" class="url org fn">Associated Press</a>

Noble Energy: Israel could drive away investors