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"War and Natural Gas: The Israeli Invasion and Gaza's Offshore Gas Fields"
by Michel Chossudovsky

This is a war of conquest.
Discovered in 2000, there are extensive gas reserves off the Gaza coastline.

...The rights to the offshore gas field are respectively British Gas (60 percent); Consolidated Contractors (CCC) (30 percent); and the Investment Fund of the Palestinian Authority (10 percent).

The PA-BG-CCC agreement includes field development and the construction of a gas pipeline. The BG licence covers the entire Gazan offshore marine area, which is contiguous to several Israeli offshore gas facilities. It should be noted that 60 percent of the gas reserves along the Gaza-Israel coastline belong to Palestine.
The BG Group drilled two wells in 2000: Gaza Marine-1 and Gaza Marine-2. Reserves are estimated by British Gas to be of the order of 1.4 trillion cubic feet, valued at approximately 4 billion dollars. ... The size of Palestine's gas reserves could be much larger.
Who Owns the Gas Fields The issue of sovereignty over Gaza's gas fields is crucial. From a legal standpoint, the gas reserves belong to Palestine.
The death of Yasser Arafat, the election of the Hamas government and the ruin of the Palestinian Authority have enabled Israel to establish de facto control over Gaza's offshore gas reserves.
... Sharon stated unequivocally that "Israel would never buy gas from Palestine" intimating that Gaza's offshore gas reserves belong to Israel. ...

... In fact, negotiations between British Gas and Israeli officials were ongoing in October 2008, 2-3 months prior to the commencement of the bombings on December 27th. In November 2008, the Israeli Ministry of Finance and the Ministry of National Infrastructures instructed Israel Electric Corporation (IEC) to enter into negotiations with British Gas, on the purchase of natural gas from the BG's offshore concession in Gaza.

The military occupation of Gaza is intent upon transferring the sovereignty of the gas fields to Israel in violation of international law.
- What can we expect in the wake of the invasion?
- What is the intent of Israel with regard to Palestine's Natural Gas reserves?
- A new territorial arrangement, with the stationing of Israeli and/or "peacekeeping" troops?
- The militarization of the entire Gaza coastline, which is strategic for Israel?
- The outright confiscation of Palestinian gas fields and the unilateral declaration of Israeli sovereignty over Gaza's maritime areas?
- If this were to occur, the Gaza gas fields would be integrated into Israel's offshore installations, which are contiguous to those of the Gaza Strip. ...