Israel and PA Leaders Sign Historic Natural Gas Supply Deal

In a sign of economic cooperation despite enduring political problems, Israeli companies exploring for natural gas in the offshore Leviathan reservoir inked a deal on Sunday to sell 4.74 billion cubic meters of natural gas for $1.2 billion over 20 years to the Palestine Power Generation Company. The gas will fuel a planned 200-megawatt electrical power plant in Jenin. Israeli and PA leaders hailed the agreement as laying the foundations for a lasting peace and economic prosperity which would benefit the entire region. In related news, US Secretary of State John Kerry returned to Jerusalem from Riyadh Sunday evening, after declaring that Saudi Arabia and the Arab League would have to be more involved in building momentum towards an agreement between Israel and the Palestinians. Read More