Hamas holding natural gas discoveries off coast of Gaza hostage in 2006?

Why It Rains: Hamas holding Israeli gas reserves hostage

British Gas, the company that signed an agreement to sell Gazan gas to the international market.
An unexpected energy windfall on Israel’s doorstep promises to resolve Israel’s energy security concerns for years to come. Unfortunately for Israel, it is the Palestinian Authority that controls the licensing of these reserves. So, as Operation Summer Rains washes away the administrative and political structures in the occupied territories, has Israel decided to use Hamas as an excuse to dismantle the PA and seize its energy assets
After the Iranian Revolution cut-off energy supplies in 1979, and the loss of Sinai’s oil in 1982, Israel became dependent on expensive, long-distance energy imports. Towards the end of the 1990s, in an attempt to alleviate concerns over its energy security and reduce its dependency on imported oil, Israel decided to place a greater emphasis on natural gas. The architect of Israel’s energy strategy at the time was Netanyahu’s Minister of National Infrastructure, Ariel Sharon.

After Netanyahu’s election defeat in 1999, Ehud Barak sought to take advantage of improved relations with Egypt to import some of Israel’s gas from the Nile Delta 1. There was, however, political resistance to the deal from within both countries and, when relations with Egypt began to deteriorate with the start of the 2nd Intifada and Sharon’s subsequent rise to power, the $3 billion deal was put on the back-burner. However, the possibility of avoiding dependence on such a politically contentious source arose in 2000 when several energy companies, including British Gas (BG), announced the discovery of significant deposits of natural gas off the Israeli coast 2.

Daily.pk