Project Profile
Value: US$250 million
Location: Mediterranean Sea lies about 30 kilometres off the coast
Depth: 610 metres
Reserves: 1.3 trillion cubic feet
Discovery: 2000
Start-up Year: 2015
The Gaza Marine natural gas field was discovered in 2000 in water that is legally under the control of the Palestinian National Authority. It is located about 36 kilometres (22 mi) offshore at a depth of 610 metres. In 2000, BG discovered the Gaza Marine Gas Field. It has enough energy to supply Palestinian territories and still have a surplus for export, making the Palestinian territories more energy independent. Despite many attempts to strike a deal with BG to open the Gaza Marine Gas Field, it is still unexploited. Two of the main parties involved in the negotiations are the Israel Electric Corporation (IEC) and Egypt, who seek to convert the natural gas into liquefied natural gas to export. The gas field remains unexploited for political and historical reasons although when it was first discovered the media coverage projected it to be a subject which could lead to cooperation and negotiation between Israel and Palestine, offering benefits to both parties. BG plans to export the gas via a subsea pipeline to the Israeli port of Ashkelon. In 2001, a technical review recommended a sub-sea development and pipeline to an onshore processing terminal. The Gaza Marine Field contains around 1.3 trillion cubic feet of reserves, worth an estimated US$4 billion (Dh14.7 billion).
Operators:
Consolidated Contractors International Company (CCC)
BG Group Gaza