Showing posts with label
Palestinian Investment Fund (PIF).
Show all posts
Showing posts with label
Palestinian Investment Fund (PIF).
Show all posts
JULY 6, 2018 / 1:10 PM
Shadia Nasralla
LONDON (Reuters) - Greek oil and gas company Energean (ENOG.L) is ready to buy and operate a 45 percent stake in the offshore gas field Gaza Marine as soon as both the Israeli and Palestinian authorities give their green light, its Chief Executive said.
The field has long been seen as an opportunity for the cash-strapped Palestinian Authority to join the eastern Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid and Israeli energy.
But Palestinian political disputes and conflict with Israel, as well as economic factors, have delayed plans to develop the field.
Energean chief executive Mathios Rigas told Reuters late on Thursday that the company was ready to buy the gas field stake “if that is something the host governments approve”. “We have proven we can get gas flowing quickly,” he said.
21 Jun, 2018 20:16
Amiram Barkat and Sonia Gorodeisky
The gas produced from the reservoir will be used to operate the power station in Gaza and another 450-megawatt power station to be built in Jenin.
Almost 20 years after it was discovered, the Palestinian Authority (PA) will try to develop the Gaza Marine natural gas reservoir located off the coast of the Gaza Strip by itself, sources inform "Globes." In the past, the PA asked Israel for the use of the state's gas transmission infrastructure, and the matter is currently being discussed. The sources add that the owners of the rights in the reservoir are negotiating with an international drilling operator to develop and operate the reservoir.
According to the plan, the gas produced from the reservoir will be used to operate the power station in the Gaza Strip and another 450-megawatt power station slated for construction in the Jenin area. In addition to local consumption, the Palestinians are trying to find customers for their gas in the region in order to reach a minimum amount of demand for gas that will justify development of the reservoir. Costs of developing gas reservoirs have recently fallen, thereby making it easier to carry out plans.
Friday, January 12, 2018 - 12:20pm
It may prove to be Royal Dutch Shell Plc's (NYSE: RDS.A) hardest sell. The Anglo-Dutch group is struggling to find a buyer for its gas field off the Gaza Strip, even among energy companies long used to dealing with projects fraught with political and security risks.
At least one European company has shown interest in the undeveloped Gaza Marine Field following a reconciliation deal in October between the two rival Palestinian factions, a source involved in the talks said.
But the firm's discussions over the field, located about 30 km (20 miles) off the Gaza coast, have ground to a halt since tensions in the wider region have taken a fresh turn for the worse, the source told Reuters.
"Until the political situation is resolved I really can't see anything happening here," he said.
Gaza Marine has long been seen as a golden opportunity for the cash-strapped Palestinian Authority to join the Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid.
