Prime Minister Benjamin Netanyahu appointed on Sunday a committee for the promotion of natural gas in Israel, Calcalist learned. The committee will be headed by the PM's Office Director General, Harel Loker. The committee aims to promote the natural gas sector as an economic growth engine whereby Israel may promote its economic and geo-political ties with countries around the world. The member roster indicates that the committee's agenda includes the incorporation of natural gas in power station planning, industry, heavy transportation and possibly new natural gas-based industries, such as methanol production. On Sunday, the government discussed the establishment of a fund for the excess profits mandated by the Sheshinski Law, which was approved last March. "It's true that it may take several years until the fund bears fruit, but it will happen. This is a lot of money Israel stands to make from the royalties from its offshore gas," Netanyahu said. Israel's gas reservoirs are estimated at $100-130 billion, in capitalized value, with State revenues throughout the production period of all of the fields amounting to 50%. Read this article in Hebrew Follow Ynetnews on Facebook and Twitter