Palestinian Authority in talks with Egypt to develop natural gas field off Gaza Strip’s coast

CAIRO – 17 October 2022: The Palestinian Authorities selected a group of ministers to discuss the Palestinian gas file with Egypt, said Palestinian Prime Minister Muhammad Shtayyeh in a statement reported by WAFA.

Euronews also reported on Saturday that Egypt is holding talks with the Palestinians and Israel with the aim of reaching an agreement that would allow developing a natural gas field in the eastern Mediterranean, off the coast of the Gaza Strip.

Euronews added that the Palestinian Authority assigned the British Gas Company to drill for gas offshore of Gaza in 1999 and 1 year later the company announced the discovery of “Marin Gaza 2.”  However, the company terminated the contract in 2016 due to Israeli hurdles, the newspaper continued.

Shtayyeh stressed that reaching an agreement on the matter would serve the Palestinian national resources.

It is worth mentioning that  Muhammad Mustafa, the head of the Investment Fund, will take part in the negotiations with the Palestinian side.

Egyptian Minister of Petroleum Tarek el-Molla revealed that Egypt has developed its gas infrastructure, and will coordinate with the Palestinians in Gaza to develop their gas fields, Dostor newspaper reported on Monday.