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You are here News Energy Israel Authorises Mining of Natural Gas off Gaza Shore in Defiance of Palestinian Sovereignty

Israel Authorises Mining of Natural Gas off Gaza Shore in Defiance of Palestinian Sovereignty

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The Israeli Ministry of Infrastructure has demanded permission from the gas company Nobel Energy to start working in developing the natural gas field that was found off the Gaza Strip shoreline, under the pretext that Israel fears gas shortages in the coming year.

Israel gets natural gas from Egypt through an agreement in which Israel pays less than internationally recognised prices to Egypt. After the Egyptian uprising and the toppling of Hosni Mubarak, the Egyptian people demanded that the channeling of gas to Israel would be stopped until a new agreement could be reached, so that the Egyptian people could benefit first from their natural resources.

However, Chossudovsky, a Canadian economist, estimated that the amount of gas in Palestine is much more, adding that it could make the future Palestinian state as rich as Kuwait, due to the average population in the West Bank and Gaza Strip.

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