Greece Prepares to Develop Offshore Gas Field Near Gaza – Reports

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Greece Prepares to Develop Offshore Gas Field Near Gaza - Reports

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The Greek energy company Energean and the Palestinian Authority are considering the development of natural gas fields offshore near the Gaza Strip, including Gaza Marine, the Israeli business newspaper TheMarker reported.

“The matter has been under discussion in the government for a long time. If they develop the Palestinian reservoir and it’s connected to Israel it would create competition for Tamar [Israel’s oil field],” TheMarker cited a source on the issue.

According to TheMarker’s sources, the Israeli authorities are monitoring the situation looking how they could exploit it.

Energean declined to comment in the issue saying that “developing Karish and exploring the blocks adjacent to it are our highest priorities.” The company is already developing Israel’s offshore Karish and Tanin oil fields.

Gaza Marine is located 36 km off the Gaza Strip. The field reportedly contains between 30 and 35 billion m3 of natural gas.

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