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FinancialNews
18-10-22
Palestine on edge of finalizing offshore gas project with Egypt
(MENAFN) Palestine is getting ready for a final deal with an Egyptian firm to discover and extract gas from an area off the coasts of the Gaza Strip.
It is anticipated to supply millions of dollars to the treasury of the Palestinian Authority as well as develop the capability of the Gaza power plant to produce electric power for citizens.
Palestinian Authority Premier Mohammed Shtayyieh stated that at the beginning of the weekly administration meeting on Monday in Ramallah that the administration would establish a side that involves numerous ministers to follow up on the subject of Palestinian gas.
He stated that the chairman of the Palestinian Investment Fund, Mohammed Mustafa, and his side, were discussing with Egypt to count in a deal on gas, in a manner that helps Palestinian national rights and benefits.
“The gas extraction project is an important strategic scheme for us,” a head PA government official informed Arab News.
Adding that “The prime minister and the government are very interested in it because it will generate sums of money that will help the government’s treasury.”
MENAFN18102022000045014228ID1105037430
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