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Gazprom may develop gas deposits in Gaza Strip

January 23, 2014, 14:36 UTC+3 NOVO-OGAREVO
Russia and Palestine plan to set up a high-level working group to enhance economic interaction, mainly in energy, agriculture, tourism and investments
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NOVO-OGAREVO, January 23. /ITAR-TASS/. Russia’s gas giant Gazprom will possibly develop gas deposits on the Mediterranean shelf of the Gaza Strip.

“Gazprom is eyeing expediency of developing gas fields on the Mediterranean shelf of the Gaza Strip,” according to materials for the meeting between Russian and Palestinian presidents Vladimir Putin and Mahmoud Abbas due on Thursday.

“The approximate gas volumes total 30 billion cubic meters, the project is estimated at around $1 billion,” the materials said.

Moreover, Russia and Palestine plan to set up a high-level working group to enhance economic interaction, mainly in energy, agriculture, tourism and investments.

Technopromexport, an engineering company that builds energy facilities in Russia and abroad, is set to take part in the construction of a 200 MW thermal power plant on the West Bank of the River Jordan.

“There are also plans for developing an oil field on the West Bank of the River Jordan, in the suburbs of Ramallah (there are no reserve estimates),” the documents said.

During Mahmoud Abbas’s visit to Moscow the two countries plan to sign an intergovernmental agreement on cooperation and mutual assistance in customs affairs, an agreement on cooperation between the Russian and Palestinian interior ministries and a memorandum of understanding between the health ministries.

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