PrintMay 25, 2007
Gaza gas for Israel
No, not poison gas or tear gas, but actual useful, valuable natural gas. There's an old joke about Moses leading the Jewish people to one spot in the Middle East with no oil deposits, which recently got a lot more bite to it by the discovery and pending development of an offshore gas field off of the Gaza coast.
Palestinian-controlled Gaza could be supplying Israel with up to $4 billion in natural gas over 15 years, with royalty income of over $1 billion, if the details can be worked out.
ArabianBusiness.com (via the eagled-eyed folks at Ummah News Links, the outstanding website that keeps track of the Muslim world's news for infidels) reports:
British gas giant BG Group is close to signing a deal that will see Palestine supply gas to Israel. [....]
"We are making progress," said Nigel Shaw, BG Group Regional Vice-President. "There are commercial issues to be completed and we also require bilateral agreement between the two governments to get this project across the line. But this is a chance for greater economic prosperity in Palestine and that is only good for peace," he added.
We can thank Tony Blair for intervening and encouraging a deal with Israel, not Egypt,as purchaser of the gas. Giving the Palestinians a financial stake in the health of Israel is not a bad idea, particularly if the delivery system can be devised to avoid vulnerability to terror attacks. Certainly, control over the gas supply would give the Palestinian Authority leverage over Israel, but if the lure of the gas income can be used to induce a more sensible regime than Hamas provides, the deal will have the potential to truly help build a peaceful future.
I am no expert at reading maps of offshore fields and their ramifications for ownership, but the map shown here (click on the map to enlarge) looks like Israel might own the northeasternmost portion of the field.
If Israel and the Palestinian Authority both benefit, whether through ownership or just as supplier and customer, such joint interests can help promote peace.
