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Friday March 31, 2000

Gas reserves detected off Israel

JERUSALEM (JPS) -- New findings off the Israeli coast may point to reserves that could supply one-third of Israel's natural gas
Avner Oil & Gas, Delek Energy and Delek Drilling said earlier this month that a drilling site off Ashkelon indicates reserves of

Suissa asserts that the discovery, along with other recent discoveries, indicate that Israel can provide for its own natural gas needs for the next 15 years.

Analysts disagree, however, saying that any additional suppliers would be welcome.

Amit Mor, director of an Israeli consulting group on energy and environmental issues, said that increased competition would only reduce gas prices, which have a direct effect on electricity and industrial production costs.

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