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  1/23/2014, Shevat 22, 5774

Abbas In Russia To Sign Energy Deal


Palestinian Authority (PA) Chairman Mahmoud Abbas, while in Russia on Thursday, was reported to be signing a $1 billion natural gas project in Gaza with Russian Prime Minister Dmitry Medvedev. While exact details of the deal or start-dates for the project remain unclear, the Russian state news agency ITAR-TASS reported that Russia's natural gas giant Gazprom intends to produce 30 billion cubic meters of natural gas off the Gaza coast.

Further, Russia's Technopromexport engineering firm appears to be pursuing an oil development project near Ramallah.