Bar-On:

The Minister of National Infrastructure said the government did not need to review royalty payments by British Gas to the Palestinian Authority.

ISRAEL – Minister of National Infrastructure Minister Ronnie Bar-On, speaking in the Knesset today, said the entry of BG Group (NYSE: BRG; LSE: BG) (British Gas) to the local gas market would save the economy $1.5-$6 billion. Bar-On was speaking at a session convened during the recess to discuss the intentions of acting Prime Minister and Minister of Industry, Trade and Labor Ehud Olmert to buy gas from British Gas, despite the Hamas victory in the Palestinian election and the ownership by British Gas of concession rights to natural gas reserves in the Palestinian Authority.

Bar-On said that in the event that the company decided not to go ahead with its entry to Israel, the Israeli economy would once again be dependent on a sole gas supplier, Egypt