But the financial benefits have yet to trickle down to Israeli consumers, who continue to pay stubbornly high electricity costs even as oil and gas prices have plunged in recent years. It could prove infeasible if gas prices remain low and Europe accelerates its shift to renewable energy. The gas deal required them to sell two smaller fields, which were acquired by the Greek firm Energean in 2016. The Israeli government says the shift from coal to natural gas has been good for the environment. Natural gas burns cleaner than coal or oil, cutting down on air pollution.

Source: ABC News October 12, 2020 06:00 UTC