Gaza Gas Can't Help Palestinians
Despite extensive gas reserves off the coast of Gaza, the strip's residents are unable to benefit from their own resources, writes Omar Shaban.
Despite their geographical distance, Gaza and Nigeria are similar on many levels. Nigeria is one of the largest oil exporters in the world, but one of the poorest countries. Hundreds of Nigerians die while trying to obtain a few liters of their own oil, even as it flows right in front of their eyes. Gazans also suffer from severe poverty, high unemployment and deaths due to continuous power cuts, despite large gas fields in the Mediterranean Sea, right before their eyes.
With strong indications of extensive gas and oil reserves in Palestinian lands and waters, the British Gas Group (BG) and the Consolidated Contractors International Company (CCC) were granted gas exploration rights in Gaza’s offshore, in a 15-year agreement signed in 1999 with the Palestinian Authority (PA). In 2000, as drilling operations began, BG and CCC found gas fields in the Gazan offshores, including Gaza Marine 1 and the Gaza border field.
Gaza Marine 1 is entirely located in the Palestinian territorial waters facing the city of Gaza, with reserves estimated at 28 billion cubic meters. The Gaza border field is located within the maritime border area between the Gaza Strip and Israel. The well’s reserves are estimated to be on the order of three billion cubic meters. Gaza’s gas reserves are estimated at 31 billion cubic meters and are valued at more than $6.5 billion.
Unjust contract for the Palestinian side
