levant legal presentation final
TRANSCRIPT
www.levant-legal.com
INTRO
OIL &GAS - LONG - TERM INVESTMENTS
CURRENT ISSUES – ISRAEL:
Uncertainty
Tax issues – too many changes (tax rates, retroactive taxation (the Sheshinski committee))
New laws & regulations (environmental laws/ the Zemach committee etc.)
The security current situation (Iran? / Egypt (the gas pipe) / Syria and Lebanon)
Centralism
Israel - 2 main companies
Cyprus made an interesting movement – Korea (Kogas),
France (Total), Italy (ENI), Russia (Gazprom), Israel (Delek) and US (Noble).
The Potential
2 Small local markets
License to export (Zemach committee)
• The result: on the valuation, on the risks, on raising
funds, Investors & potential partners.
Cyprus
Cyprus advantages :
Part of the EU – European standards
English common law
Simple tax system
Low tax rates (10% flat)
Political situation – good
Potential – huge gas reserves
THE FUTURE
ISRAEL – CYPRUS COOPERATION:
More certainty for the industry
More cooperation between Israel- Cyprus (economically/
security/ DTT, etc.)
Cyprus will be the HUB for Israeli Gas to Europe
Tax issues
Subsidiary or
Branch in Israel
LEVANT ENERGY LEGAL
WHO WE ARE?
• Group of legal professionals
• The main goal is to assist International companies/ Investors and
governmental units, who are active in the Oil, Gas and Energy sector in
Israel – Cyprus.
• The LEL GROUP includes worldwide legal professionals in the oil & gas
sector, from Houston, NY, Israel, Cyprus, Singapore, etc.
• www.levant-legal.com
Levant Energy Legal Ltd brings strong capability to each client, focusing on
delivery of high quality legal advice with regard for the client's business and
economic interests.
www.pick-law.com, www.levant-legal.com
2 Hanechoshet st., Tel-Aviv 69710 Israel
TEL: +972-3-5105002
FAX: +972-3-5105025
E-Mail: [email protected]
Vassili Michaelides, 9
3026, Limassol-Cyprus
P.O.Box 57048 3311