The Gaza Strip, a small but strategically significant territory along the eastern Mediterranean coast, is home to substantial untapped hydrocarbon resources. The natural gas fields offshore and potential crude oil reserves beneath Palestinian territories have attracted immense geopolitical interest. Israel and the United States have long been involved in shaping the political and economic landscape of the region, with energy security and control over these valuable resources playing a crucial role.
The following explores the crude oil and gas reserves under Gaza, the strategic manoeuvres of Israel and the United States in securing these resources, and broader patterns of US intervention in oil-rich regions worldwide.
Hydrocarbon Reserves in Gaza
1. The Gaza Marine Gas Field
Discovered in 1999 by British Gas (now BG Group), the Gaza Marine gas field is located about 32 kilometres off Gaza’s coast. The field is estimated to contain between 28 to 32 billion cubic meters of natural gas. Initially viewed as an economic game-changer for the Palestinian economy, political instability and Israeli restrictions have consistently prevented its development.
Despite recent talks in mid-2023 where Israel granted preliminary approval for the field’s development—conditional on security coordination with Hamas and the Palestinian Authority—the project remains stalled. The field could provide Palestinians with energy independence and economic upliftment, yet it remains largely untapped due to geopolitical constraints.
2. Undiscovered Crude Oil Reserves
According to various geological assessments, the Levant Basin, which extends across Israel, Lebanon, and Palestinian territories, holds an estimated 1.7 billion barrels of recoverable crude oil. Some estimates suggest that Gaza itself could sit on several billion barrels of oil. While not yet fully explored, the possibility of vast underground reserves has heightened tensions in an already volatile region.
Israel has aggressively pursued energy extraction from the Mediterranean, particularly from its Leviathan and Tamar gas fields. However, the exclusion of Palestinians from benefiting from the Gaza Marine field and any potential crude oil beneath their territory underscores the broader economic and political suppression of Palestinian resources.
Geopolitical Interests: Israel and the United States
1. Israeli Strategic Interests
Israel has heavily invested in energy extraction in the Eastern Mediterranean, approving licenses for further offshore drilling and planning gas pipelines to supply European markets. In contrast, Palestinian access to their natural resources has been systematically denied. Many analysts believe Israel’s blockade of Gaza and military actions serve not just security interests but also economic and resource control objectives.
2. US Involvement: Energy and Geopolitics
The United States has consistently backed Israeli energy security policies while advocating for regional gas export projects. In November 2023, reports surfaced that the Biden administration intended to push Israel to allow Gaza’s offshore gas reserves to be developed, supposedly to revitalise the Palestinian economy. However, such developments remain highly conditional on US and Israeli geopolitical priorities.
US Interventions in Oil-Rich Regions
Beyond Gaza, the United States has a long history of interfering in the domestic politics of oil-rich nations to secure its energy interests. Below are key examples:
1. Iraq (2003 – Present)
The US invasion of Iraq in 2003 was largely justified under the pretext of eliminating weapons of mass destruction (WMDs). However, many analysts argue that securing Iraq’s vast oil reserves, estimated at 145 billion barrels, was a major factor. Post-invasion, the Iraqi oil industry was opened up to Western companies, reshaping the global energy landscape.
2. Venezuela (2002 Coup Attempt, Sanctions, and Regime Change Efforts)
Venezuela holds the world’s largest proven oil reserves, estimated at 303 billion barrels. The US has frequently sought to destabilise governments in Caracas, supporting a failed coup against President Hugo Chávez in 2002 and imposing severe economic sanctions under Nicolás Maduro. The underlying goal has been to control Venezuelan oil production and reduce reliance on rival suppliers.
3. Libya (2011 NATO Intervention)
Muammar Gaddafi’s Libya was home to 48 billion barrels of oil, the largest reserves in Africa. The 2011 NATO-backed intervention, led by the US and European allies, resulted in Gaddafi’s removal. While framed as a humanitarian mission, the intervention was closely tied to Western access to Libyan oil. Today, Libya remains divided, with oil fields often serving as focal points of conflict.
4. Iran (1953 Coup and Ongoing Sanctions)
In 1953, the CIA and MI6 orchestrated a coup against Iran’s democratically elected Prime Minister, Mohammad Mossadegh, after he nationalised the Anglo-Iranian Oil Company (now BP). The coup installed the Shah, ensuring Western access to Iranian oil. To this day, US sanctions on Iran aim to cripple its oil industry, largely benefiting American and allied energy interests.
5. Saudi Arabia: The Backbone of US Oil Strategy
Despite its human rights violations, Saudi Arabia remains a close US ally due to its 267 billion barrels of oil reserves. Washington has historically protected the Saudi monarchy, including its military interventions in Yemen, to maintain a stable flow of crude oil to global markets.
Summary
The situation in Gaza highlights a broader pattern of geopolitical manoeuvring over energy resources. Israel’s control over Palestinian hydrocarbons aligns with US strategic interests in securing reliable energy supplies. While international pressure mounts to allow Palestinians access to their natural wealth, economic and security concerns continue to stall progress.
Beyond Gaza, the US has a long track record of intervening in oil-rich nations, whether through direct military action, covert operations, or economic sanctions. From the Middle East to Latin America, Washington’s foreign policy has often prioritised energy dominance over democratic principles and national sovereignty.
As global energy markets shift toward renewables, the question remains: Will resource conflicts like those in Gaza subside, or will they persist in new forms? The answer will likely shape the geopolitical landscape for decades to come.
