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Reserves of natural gas were found offshore the Gaza Strip in the year 2000, within the framework of licensing to British Gas by the Palestinian National Authority. [1] The discovered gas field, Gaza Marine, though mediocre in size, had been considered at the time as one of the possible drives to boost Palestinian economy and promote regional cooperation.
For instance, North America has over 3 trillion barrels of shale oil reserves, [citation needed] and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at 2024 production levels in 10 years.)
In 1999, BG Group was granted an exploration licence by the PA, and in 2000 the company discovered natural gas about 36 kilometres (22 mi) offshore in the Mediterranean Sea in the Gaza Marine gas field. As of 2021, exploitation of the gas field is still subject to negotiations.
Natural gas in Palestine is mostly found in Gaza Strip. [76] Gaza Marine is a natural gas field, located around 32 kilometres (20 mi) from the coast of the territory in the Mediterranean shore. [78] It holds gas reserves ranging between 28 billion cubic metres (990 billion cubic feet) to 32 billion cubic metres (1.1 trillion cubic feet). [79]
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Considering the human toll of the war between Israel and Hamas in the Gaza Strip, it's understandably hard to think about the economic impact. ... But because the conflict takes place in a major ...
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The Leviathan gas field is a large natural gas field in the Mediterranean Sea off the coast of Israel, [2] 47 kilometres (29 mi) south-west of the Tamar gas field. [3] The gas field is roughly 130 kilometres (81 mi) west of Haifa in waters 1,500 metres (4,900 ft) deep in the Levantine basin, a rich hydrocarbon area in one of the largest offshore natural gas field finds.