In what he described as an effort to improve the Palestinian territories’ economy, Israeli Prime Minister Benjamin Netanyahu offered late last week to begin talks with the Palestinian Authority about developing a natural gas field located off the coast of the Gaza Strip. Netanyahu said the initiative is aimed at helping the Palestinian Authority generate more revenue and make it more stable. He said the stability of the territories and the whole Middle East “is especially important now.” The chief Palestinian negotiator, Saeb Erekat, however, dismissed the offer as insignificant, explaining that it would take years before the Palestinian territories can enjoy any economic gain from the gas fields, The Wall Street Journal says.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.