Oil & Gas News: Archived Story BG Shelves Gaza Drilling Plans
JERUSALEM, Oct 25 (energy24.com) - Reports state that BG Group Plc has shelved plans to drill a second region off the Gaza Strip.
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Although BG would not offer a reason for the change in position, Israel's Ha'aretz newspaper, cited Middle East tension as the underlying factor. The company reputedly feared the loss of Israel as a marketplace, if it pursued the Gaza drilling.
The Gaza Strip, controlled by the Palestinian Authority, aims to establish its own gas industry.
In September, BG made the first discovery of natgas in the seabed adjacent to the Gaza Strip. However, the region, controlled by the Palestinian Authority, aims to establish its own gas industry.
BG already operates in Israel and Egypt.
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