Daily Management Review

Gaza Marine’s Work To Begin in 2021


05/31/2018


When the Gaza Marine oil platform gets operational, the West Bank’s half energy supply could be met with.



Gaza Marine’s Work To Begin in 2021
As per the reports Al-Resalah, the Palestinian Investment Fund’s head said that the Gaza Marine project, which refers to an “offshore gas field” near Gaza, is likely to begin from 2021, if no further hurdles are introduced by Israel.
 
The operation of the offshore oil field will capable of supply energy to meet fifty percent of the “West Bank’s electricity needs”. Mohammed Mustafa, further added, that “international parties” are attempting to “coordinate with the Israeli occupation authorities to let the Palestinian Authority exploit the natural resources off the coast of the besieged Gaza Strip”. Israel recognises the Palestinian “territorial ownership of Gaza Marine”.
 
Mustafa said that around “$1 billion” is needed to develop the gas field, which requires seeking out “foreign companies” who would pay 37.5% as taxes under the “Palestinian Investment Fund”. Gaza Marine gas will prove beneficial to “Palestinians across the occupied territories”, whereby the early signs show that the reserve is “enough” for running the “Gaza and Jenin power stations for 15 years”.
 
British Gas discovered Gaza Marine in the year of 2000, while estimations are there that the oil reserve may contain nearly “a trillion cubic metres of natural gas”.
 
References:
middleeastmonitor.com







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