This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6682509.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Israel could buy Palestinian gas | |
| (about 5 hours later) | |
| UK energy firm BG Group has confirmed it is in talks to agree a contract to supply Palestinian gas to Israel. | UK energy firm BG Group has confirmed it is in talks to agree a contract to supply Palestinian gas to Israel. |
| BG discovered the Gaza Marine field, which is controlled by the Palestinian Authority, off the coast of the Gaza Strip in 2000. | BG discovered the Gaza Marine field, which is controlled by the Palestinian Authority, off the coast of the Gaza Strip in 2000. |
| Any deal would represent a landmark in Middle Eastern relations, but BG said it would first require agreement between both governments. | Any deal would represent a landmark in Middle Eastern relations, but BG said it would first require agreement between both governments. |
| Israel has previously vowed never to buy gas from its neighbour. | Israel has previously vowed never to buy gas from its neighbour. |
| Lengthy negotiations | Lengthy negotiations |
| "We have been in negotiation with Israel for many, many months," said a BG spokeswoman. | |
| The gas field is located off the coast of the Gaza Strip | The gas field is located off the coast of the Gaza Strip |
| "Most importantly, we need a bilateral agreement between both governments to get the go-ahead on this. We are working on that." | "Most importantly, we need a bilateral agreement between both governments to get the go-ahead on this. We are working on that." |
| BG, previously part of British Gas, is seeking a 15-year contract. | BG, previously part of British Gas, is seeking a 15-year contract. |
| According to press reports, BG is hoping to sign a $4bn (£2bn) deal that would see the Palestinian Authority receive $1bn in royalties. | According to press reports, BG is hoping to sign a $4bn (£2bn) deal that would see the Palestinian Authority receive $1bn in royalties. |
| Under the proposals, BG would transport gas from the Gaza Marine field through an undersea pipeline to the Israeli port of Ashkelon. | Under the proposals, BG would transport gas from the Gaza Marine field through an undersea pipeline to the Israeli port of Ashkelon. |
| The field contains one trillion cubic feet of gas, and could reportedly supply 10% of Israel's annual needs. | The field contains one trillion cubic feet of gas, and could reportedly supply 10% of Israel's annual needs. |
| If the project gets the go-ahead it would be a major boost to the economies in the Palestinian controlled territories. | If the project gets the go-ahead it would be a major boost to the economies in the Palestinian controlled territories. |
| Ongoing violence, especially in the Gaza Strip, has seen much economic activity grind to a halt, leaving the territories heavily reliant upon financial aid from overseas. | Ongoing violence, especially in the Gaza Strip, has seen much economic activity grind to a halt, leaving the territories heavily reliant upon financial aid from overseas. |