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May 25, 2007       Share:    

Source: http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article1832315.ece

Hamas Denounces British Plan to Pump Offshore Gas to Israel

[Times-UK] Sonia Verma and Steve Hawkes - Hamas has vowed to block a potential £2 billion deal being brokered by the BG Group to supply Palestinian gas to Israel. Ziad Thatha, the Hamas economic minister in the Palestinian government, denounced the sale of "Palestinian gas to the Zionist occupation." The comments threaten to overshadow key negotiations BG Group hoped would lead to the development of the Gaza Marine gas field it discovered seven years ago. Talks over a 15-year contract are due to begin next week and the Israeli Foreign Ministry said it was keen to conclude a deal "as soon as possible." The Gaza Marine field is Palestine's only sovereign natural resource and its development could generate £500 million for the Palestinian economy in royalties from BG Group.

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