• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 5 mins Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 14 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 8 hours Let's shut down dissent like The Conversation in Australia
  • 4 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 6 mins Instagram Now Banning Photos Of People At Gun Ranges, Claiming They Promote "Violence"
  • 1 hour Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 2 hours Famous Manufacturer of Anti-Ethanol Additives Proves Ethanol's Safety and Benefits
  • 14 hours Hong Kong protesters appeal to Trump for support.
  • 4 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 7 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 22 hours Saudis Buying Oil From Iraq
  • 23 hours Saudis Confirm a Cruise Missile from Iranian Origin
  • 7 hours Iran in the world market
Oil Slips On Bearish EIA Inventory Data

Oil Slips On Bearish EIA Inventory Data

Oil prices continued to fall…

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



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play