PALESTINIAN OIL AND GAS RESERVES

That this House acknowledges the view of the World Bank that Israel's occupation is preventing Palestine from accessing its natural resources, including not only oil and gas but also agricultural land and water acquifers; notes that the natural gas reserves of Gaza Marine 1 and Noa South of Gaza Marine 2 are in Gaza's territorial waters and contain at least $5 billion of gas; further notes that the BG Group has held a licence since 1999 but that Israel’s intransigence has prevented it from commencing exploration; notes that the already operational Meged oil field in Israel is believed to contain reserves of at least 3.5 million barrels and to extend into the Occupied West Bank; notes that Israel has also issued licences for oil exploration in the occupied Golan Heights in violation of international law; recalls that the Oslo Accords oblige Israel to coordinate exploration for natural resources in shared territory with the Palestinian Authority and share its benefits; and therefore calls on the Government to press lsrael, together with its European partners, to abide by its obligations and cease obstructing legitimate Palestinian endeavours aimed at accessing its natural resources.