Anglo-Dutch major Shell will sell its entire 90% stake and operatorship of the 1 Tcf Gaza Marine gas project, offshore Palestine, to a local investment company, which plans to bring in a new international partner to help develop the long-delayed project. For Shell, which inherited the project through its acquisition of the UK’s BG Group in 2016, the disposal is part of its $30 billion asset disposal program. “This deal is consistent with Shell’s strategy to high-grade and simplify our portfolio,” the company said. “It helps to concentrate our upstream footprint where we can be most competitive.” The Gaza Marine field was discovered by BG in 2000 — before the majority of the major gas discoveries in the East Mediterranean offshore Israel, Egypt and Cyprus — but has not moved to the development stage for various political and commercial reasons. Discussions regarding Israel buying gas from the field have […]