FDD
Israel green-lights Gaza offshore gas development
June 18, 2023

The Israeli government gave the Palestinian Authority and Egypt a green-light on June 18 to develop a natural gas field off the Gaza Strip’s shore on condition that Israel’s national interests are safeguarded. Located about 22 miles out in Mediterranean waters, Gaza Marine is believed to hold about 1 trillion cubic feet of natural gas, more than enough to cover Palestinians’ energy needs and provide them with a measure of economic independence. But the prospect’s development has been held up for years given the geopolitical combustibility of Gaza, which is ruled by Hamas, an Islamist terrorist group at loggerheads with the Palestinian Authority. READ MORE