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September 2, 2015 6:11 am

Egyptian Gas Find Leads to Stock Declines, Political Fighting in Israel

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A gas rig off Israel's coast. Photo: YouTube screenshot.

A gas rig off Israel’s coast. Photo: YouTube screenshot.

AP – Egypt’s new natural gas bonanza is causing an uproar in Israel, with energy stocks plummeting and recriminations over indecisiveness and infighting that have delayed production from the country’s own gas fields.

The government is currently struggling to get parliament to approve its natural gas business plan, but observers fear Israel may need to reassess everything now that Egypt, which had been cast as both an export destination and a partner, may have found its own independent solution.

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