The Palestinian Investment Fund belonging to the Ramallah Authority is close to signing a technical agreement with an Egyptian company to develop the gas field off the coast of Gaza, according to Palestinian sources.
After signing this agreement, which is fundamentally technical, for the division of ownership, the Egyptian company will begin work on the commercial development of the field. In recent months, there have been reports of advanced contacts for the development of the field in Berkat Israel.
The Marin field was discovered in the late 1990s and contains an estimated 1.1 trillion cubic feet of gas. What has so far prevented the development of the field is the dispute between the PA and Hamas and the terrorist organization's takeover of the Strip.