• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 5 hours Satellite Moons to Replace Streetlamps?!
  • 1 day US top CEO's are spending their own money on the midterm elections
  • 3 hours EU to Splash Billions on Battery Factories
  • 3 hours U.S. Shale Oil Debt: Deep the Denial
  • 11 hours The Balkans Are Coming Apart at the Seams Again
  • 1 day OPEC Is Struggling To Deliver On Increased Output Pledge
  • 3 hours Owning stocks long-term low risk?
  • 11 hours The Dirt on Clean Electric Cars
  • 22 hours Uber IPO Proposals Value Company at $120 Billion
  • 13 hours 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 1 day A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 1 day 10 Incredible Facts about U.S. LNG
  • 1 day U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
U.S. Shale’s Glory Days Are Numbered

U.S. Shale’s Glory Days Are Numbered

That decline rates in U.S.…

The Implications Of A Fractured U.S., Saudi Alliance

The Implications Of A Fractured U.S., Saudi Alliance

With tensions between the United…

Natural Gas Issues Inflame Palestinian-Israeli Dispute

Massive potential natural gas fields off the Gaza Strip in the Mediterranean are complicating Israeli and Palestinian peace negotiations.

Earlier this week Israel's Ministry of National Infrastructure authorized Noble Energy, a crude oil and gas exploration U.S. based company based in New York, to begin developing a natural gas field off the Gaza Strip coastline, the Palestine News Network reported.

In authorizing the development work Israel's Ministry of National Infrastructure maintains that the decision to grant approval was made in following Israel’s severe shortage of natural gas supplies in the wake of cessation of natural gas supplies from Egypt following a 27 April explosion damaged a gas terminal at El Arish in Egypt’s Sinai Peninsula, a key link in the pipeline that carried natural gas from Egypt's Nile Delta to Israel.

British Gas has already established two offshore natural gas wells, Gaza Marine 1 and Gaza Marine 2. According to British Gas, the natural reservoir off Gaza is estimated to contain 1.5 trillion cubic meters of natural gas with an estimated net worth of approximately $4 billion.

Fatah official Dmitry Dliani stated that the Israeli Ministry of Infrastructure’s decision was in fact a license to steal Gaza’s natural gas reserves and demanded international protection for the Palestinian natural gas reservoir off Gaza.

By. Charles Kennedy, Deputy Editor OilPrice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News