The Israeli government is nevertheless still keen to buy gas from the Gaza offshore field.
The signing of the agreement with British Gas for the purchase of natural gas from its field off the Gaza Strip coast is liable to be postponed until the end of 2007, senior government sources say. This is because of the uncertainty in the Palestinian Authority after the Hamas seizure of power in the Gaza Strip.
As first reported in "Globes", the government has decided to continue negotiating with British Gas, despite the uncertainty. Nevertheless, a delay of several months is expected in signing the agreement until the situation in the Palestinian Authority becomes clear.
British Gas holds the rights to 90% of the Gaza offshore field. The Israeli government seeks to buy gas from the field to create competition for the Egyptian supplier EMG, in which Joseph (Yossi) Maiman is a partner.
Published by Globes [online], Israel business news - www.globes.co.il - on June 20, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007