Funding for development of the gas field is now on hold, he said, due to banks' concerns about the new tax regime.

WSJ: Big Gas Find Sparks a Frenzy in Israel

Meanwhile, the head of Total, Christophe de Margerie, told the Financial Times the company's planned development of the huge South Pars gas field in southern Iran would not go ahead.

BBC: US warns Iran on missile threat

It was agreed that they would, instead, accelerate development of secure OECD supplies, notably Norway's Troll gas field.

CENTERFORSECURITYPOLICY: Center For Security Policy