Israel will work with Egypt and the Palestinian Authority to develop the Gaza Marine gas field, across from the Hamas-controlled coastal enclave, the Prime Minister’s Office announced on Sunday.
The decision “emphasized Palestinian economic development and maintaining regional security stability,” the Prime Minister’s Office stated.
The project will be advanced in cooperation with security agencies, in direct talks with Egypt and coordination with the PA, the Prime Minister’s Office said.
How is Israel involved in the Gaza Marine gas field deal?
Israel’s agreement on the gas field’s development came after the National Security Council examined Israel’s related security and diplomatic interests, the Prime Minister’s Office added.
EGAS, a gas company owned by the Egyptian government, is expected to develop the field about 30 km from Gaza’s shores, which is estimated to hold more than 1 trillion cubic feet of natural gas.
Palestinians sail with boats towards the maritime border with Israel. (credit: MOHAMMED SALEM/REUTERS)That quantity is more than is needed for Gaza and Palestinian-controlled areas of the West Bank, such that they can export gas.
Israel, Egypt, and the PA revived talks on developing the gas field after Russia invaded Ukraine last year and Europeans began looking for alternatives to Russian energy.
Egypt and PA first announced the deal in October, and have waited for a green light from Israel.
The project was estimated to cost $1.4 billion and would allow for gas production early next year, The Washington Post reported in November.
Income from gas could help the cash-strapped PA. Palestinian Energy and National Resources Authority chairman Zafer Milhem told The Washington Post last year that Gaza’s gas field is “a pillar to improving [Ramallah’s] fiscal plans.”
Hamas was officially left out of the negotiations, but it is unlikely that the project would be able to move forward without at least tacit agreement from the terrorist group. A Hamas spokesperson said last year that the PA “is not qualified to receive the gas file, as it is involved in cases of corruption, waste of money and misconduct.”
Gaza Marine was discovered in 2000 and hailed by Palestinian leader Yasser Arafat as a “gift from God” the day before he launched the deadly Second Intifada against Israel. The gas has remained under the sea for over two decades due to the conflict.
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