|
Trending Topics
|
Plans to Develop Gaza's Offshore Natural Gas
(Washington Institute for Near East Policy) Simon Henderson - Palestinian and Israeli officials are believed to have agreed in principle on plans to exploit a gas field 20 miles off the coast of Gaza. Currently, Israel supplies 95% of the West Bank's electricity, with Jordan providing the remainder. Some have proposed using the offshore gas to generate electricity in new West Bank power stations while also replacing an old fuel-oil-burning plant in Gaza. Despite its location, the field belongs to the PA rather than the Hamas regime in Gaza. The gas lies in an area patrolled by the Israeli navy. Yet former prime minister Ehud Barak conceded ownership of the field to the Palestinians in 2001 as a goodwill gesture. The most commercially viable way forward requires substantial cooperation with the Israelis; this includes allowing them to buy some of the gas. The most obvious way to bring the gas ashore is by linking the field with Israel's nearby seabed pipeline structure. The Financial Times reported that the project would need capital investment of $1 billion and could be on-stream by 2017. The writer is director of the Gulf and Energy Policy Program at The Washington Institute.