Egypt, Israel, and the Palestinian Authority have decided to exploit a natural gas field off the shores of the Gaza Strip, according to a report from the Israeli Broadcasting Corporation published today, Tuesday.
The commission claims that Israel and the Palestinian Authority will split the gas field’s proceeds.
The field, which is about 30 km west of the Gaza coast, was found in 2000 by British Gas Company (now BG Group), and it is believed to contain more than one trillion cubic feet of natural gas. This is remarkable.
The Egyptian Natural Gas Holding Company “EGAS” started last year talks with the Palestinian Investment Fund “PIF” and the Federation of Contractors and Gas Contractors “CCC”, a coalition from the companies licensed to develop the field.
According to the American newspaper “Monitor”, the Israeli government has always refused to allow the extraction of natural gas off the coast of the Gaza Strip, for security reasons, noting that Egypt succeeded in persuading the Israeli government to allow the Palestinian Authority to extract natural gas from the Mediterranean Sea off the coast of the Strip.
Author: RT.
Off the coast of Gaza, Egypt, Israel, and the Palestinian Authority reach an agreement to develop a natural gas field.
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