That every policy should also include another policy – economic or, in this case, energy-related – is clear from the example of Gaza. The war that Israel has been waging in this area for a second year now, justifying it as a fight against Hamas after the October 7th, 2023, attack in which about 1.200 people were killed and 251 hostages taken, has so far claimed at least 47.500 Palestinian lives. However, besides the humanitarian catastrophe, this conflict has also drawn attention to the region’s natural resources.
Although the Israeli military has turned the Gaza Strip into ruins – destroying homes, hospitals, roads, and key infrastructure – one area has remained untouched: the natural gas reserves in Gaza’s coastal zone, the untapped Gaza Marine.
First discoveries
British Gas confirmed in 1999 that reserves in Gaza Marine are estimated at 31.1 billion cubic meters (BCM) of natural gas, recalling that in the same year, Palestinian authorities granted British Gas a 25-year contract to exploit the gas field from this area, from which Palestinians have so far had no benefit.
Although several Israeli prime ministers, including the current one, Benjamin Netanyahu, approved Palestinians to utilize the Gaza Marine resources, it was always withdrawn under the pretext of fearing that the revenues would fund “terrorism” against Israel.
When discussing the natural resources of this area, it is crucial to consider the broader context of the Levantine Basin. This vast offshore deposit of oil and natural gas stretches along the eastern Mediterranean, encompassing the coasts of Israel, Gaza, Lebanon, Syria, and Cyprus, further escalating geopolitical tensions as various countries lay claim to the exploitation of these resources. It is estimated that this field contains about 122 trillion cubic feet of natural gas or 3.452.6 BCM of natural gas.
Key fields Gaza Marine 1 and 2
Its potential can best be understood by comparing this quantity to other fields. For example, Gaza Marine, which is part of the Levantine Sea and represents a relatively narrow maritime area between the Gaza Strip and Egypt, has significant strategic influence as it is located near key maritime routes. It contains about 31.13 BCM of natural gas, which is significantly less than, for example, the Tamar and Leviathan fields – two of the most well-known gas fields in the Levantine Basin. Tamar, owned by Israel, has more than 300 BCM, while Leviathan, mostly under Israeli control, has more than 600 BCM of natural gas. Russia’s gas reserves amount to 37.000 BCM, while global proven reserves are estimated at about 198.000 BCM.
In the context of Gaza, its key fields, Gaza Marine 1 and 2, discovered in the late 1990s, could bring Palestinians economic independence. However, given the current developments, this is unlikely to become a reality anytime soon.
As stated in a blog by the European Geosciences Union (EGU) Division on Stratigraphy, Sedimentology and Palaeontology, the Gaza Marine license, awarded in 1999, was originally granted to British Gas and CC Oil & Gas, covering the entire maritime area of Gaza. The gas field, discovered using 3D seismic technology in the Levantine Basin, is located approximately 35 kilometers off Gaza’s coast. The exploratory well Gaza Marine-1 drilled in 2000 at a depth of 603 meters, confirmed commercially viable gas reserves. Subsequently, the Gaza Marine-2 has estimated reserves at over one trillion cubic feet at a depth of 535 meters. After Shell took over British Gas, CC Oil & Gas, and the Palestinian Investment Fund acquired Shell’s share, with each party now holding 50 percent.
Although the Oslo Accords granted the Palestinian Authority maritime jurisdiction, Israeli resistance and political complications have hindered the development of these gas fields. Negotiations between British Gas, the Palestinian Authority, and the Israeli government have encountered difficulties, and attempts to supply gas to Israel have faced obstacles. Today, despite the gas discovery, the potential of the Gaza Marine field remains untapped, amid ongoing conflicts between those supporting and those preventing its development.
The debate over how best to utilize the field has lasted for more than two decades, with minimal progress as drilling rights and licenses have faced discussions and delays at various stages.
Is the United States (U.S.) uninterested in the resources?
Beyond Gaza’s natural gas, it should also be mentioned that Israel exploits Palestinian natural gas from the Meged oil and gas field in the occupied West Bank, under the pretext that the field is located west of the 1948 armistice line.
One of the speculations recently heard, after former U.S. President Donald Trump proposed relocating Palestinians from the Gaza Strip to Jordan and Egypt, where he claimed they would be provided homes and allowed to live in peace, has opened the theory that Trump’s interest in this area should also be sought in its gas reserves. However, Brenda Shaffer, an energy expert at the Foundation for Defense of Democracies (FDD) and the U.S. Naval Postgraduate School, denied these claims on her X account.
“In today’s comments about Trump’s plans for Gaza, many mentioned natural gas resources in Gaza. People get a grip, it’s less than 30 BCM. It’s not a major economic or geopolitical factor.”
With this, she conveyed that while this field is significant for Palestine, it is small compared to major global reserves, Forbes writes.
