RAMALLAH, West Bank — Palestinian Prime Minister Rami Hamdallah told the local Donia al-Watan website March 7 that the consensus government is discussing with developing companies the extraction of natural gas off the coast of the Gaza Strip. However, the prospects for this remain hindered by security and political obstacles. On Feb. 21, the Palestinian Investment Fund (PIF) announced that there are ongoing Palestinian talks with the Anglo-Dutch Shell company to develop the Gaza Marine gas field off the coast of Gaza.
Mohammed Mustafa, the head of the PIF, told Al-Monitor that the talks with Shell are about the development of the Gaza Marine gas field, with Shell having the largest share of the field development rights (55%). The Palestinian side is urging the company to accelerate its efforts to develop the field as soon as possible given the benefits that this would bring to the national economy.
