Natural Resources Development

Gaza Marine
Gaza Marine
The Palestinian Natural Gas field, Gaza Marine, is located in the Palestinian coastal area and includes an estimated reserve of 1 trillion cubic feet (TCF) of Natural Gas, approximately 30 billion cubic meters (BCM). The project will be developed to support the national economy, giving priority to meeting the domestic market needs for natural gas that would enable large scale power generation programs in Palestine.


The gas field was discovered in 1999 by British Gas (BG) following a seismic survey and the drilling of two exploration wells. The development of Gaza Marine is considered a central pillar of Palestine’s energy security towards the path to self-sufficiency in power generation, providing a relative degree of energy independence, lessening dependence on imported energy sources and significantly reducing the current trade deficit. Gaza Marine development costs are estimated at $ 1.2 billion dollars.


PIF is focusing on developing the Gas field with its partners, parallel to the international and regional efforts undertaken to overcome the Israeli obstacles to the development of the field to date. In addition to working on finding a global developer as a partner after the relevant Palestinian Cabinet decisions related that approved the exit of British Gas Company owned by Shell Company from the hydrocarbon resources development license agreement. The development company alliance was replaced by a new coalition composed of the existing partners in the agreement; Palestine Investment Fund (PIF) and the Consolidated Contractors Company for Oil and Gas (CCC) and a global developer partner.