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Egypt mediates talks to develop Gaza offshore gas

More than two decades since exploration began, the struggling Palestinian economy could reap huge benefits from natural gas
— Gaza City (Palestinian Territories) (AFP)

As Israel and Lebanon moved to resolve a dispute involving offshore gas fields, Egypt has been working with Israeli and Palestinian officials to unlock natural gas production off Gaza's coast.

More than two decades since exploration began, the struggling Palestinian economy could reap huge benefits from natural gas reserves, and a Palestinian official has said an agreement may be imminent.

Banners reading: "Our gas is our right" in both Arabic and English have appeared in Gaza City's fishing port, calling on neighbouring Egypt and Israel to revive a plan to develop the Marine 1 and 2 fields in the Mediterranean.

The Palestinian Authority (PA) had commissioned energy firm British Gas to conduct gas exploration in the area back in 1999.

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