Iran's "PressTV" quotes a Palestinian energy official who accuses Israel of plundering Gaza's natural resources. They claim that the natural gas fields close to the Mediterranean shore belong to the Palestinians.
On Monday, Petroleum Supervisor Dr. Michael Gardosh ordered Noble Energy Inc. (NYSE: NBL) and Delek Group Ltd. (TASE: DLEKG) to develop the offshore North Noa gas field as a stopgap measure to prevent a possible gas shortage. The order explicitly bans development of the South Noa field, because the field might spread into Gaza's marine economic zone.
"PressTV" says that, for years, Tel Aviv has been exploiting rich oil and gas fields located off the northwest tip of the Gaza Strip, which were once part of Palestinian territory.
In 2000, BG Group plc (LSE; NYSE: BG) drilled two wells, the Gaza Marine 1 and Gaza Marine 2, which are worth an estimated $4 billion. UN General Assembly Resolution 3005 from December 1972 states that the natural resources of the Gaza Strip fall under the control of the residents of the occupied territories.
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2011
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