Egypt and the Palestinian Authority will sign a deal before the end of March next year to develop the 1tcf Gaza Marine offshore gas field according to Egyptian Petroleum Minister Tarek El Molla. Speaking on the sidelines of the Gas Exporting Countries Forum (GECF) in Cairo on 25 October Mr Molla said that “a consortium of specialized companies” will be formed under the umbrella of state gas firm Egas to develop the field.

According to Mr Molla gas from the field will be piped to one of Egypt’s two LNG export facilities, with the Eni-operated 5mn t/y Segas plant at Damietta the closest of the two, around 200km away. Revenues from LNG sales would then be transferred to the PA, although that would require Israeli approval. (CONTINUED - 197 WORDS)