Russia’s Gazprom eyes Gaza gas deposits

January 24, 2014

Russia’s gas giant Gazprom will possibly develop gas deposits on the Mediterranean shelf of the Gaza Strip, Itar-Tass reported on January 23.

“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 January 23.

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

Russia and Palestine intend to intensify cooperation in power industry. The two countries, aside from the possible development of gas deposits on the Mediterranean shelf of the Gaza Strip, plan to set up a high-level task group in order to establish economic cooperation more actively, mainly in power industry, agriculture, tourism and investments.

The documents prepared for the meeting between Russian and Palestinian presidents Vladimir Putin and Mahmoud Abbas also say that Technopromexport is ready to take part in constructing a thermal power plant with a capacity of 200 MW on the West Bank of Jordan. “The plans also include development of an oil field on the territory of the West Bank of Jordan, in the suburbs of Ramallah (no estimation of reserves available),” the materials say.

Copyright: Itar-Tass, 2014