Palestinians are working on a project to produce natural gas in Gaza in the near future and sell it to Israel, local sources said on Tuesday.

The sources added talks in this regard are being held between Palestinians, Israelis and the British Gas (BG), the strategic partner.

Waleed Suleiman, Vice-Chairman of the Palestinian Consolidated Contractors Company (CCC), confirmed that his company, BG and Palestinian Investment Fund "are considering developing the project as soon as possible to get financial return for the Palestinian (National) Authority and other partners."

Suleiman added that the CCC is holding negotiations with the Israeli electricity company, via the BG as a third party, to provide it with Gaza gas.

"We are waiting imminent positive results to sell Palestinian gas to the Israeli markets," he said, adding former Israeli Prime Minister Ariel Sharon has blocked earlier attempts to sell Gaza gas to Israeli markets.

Israeli newspaper Ha'aretz reported last week that Israel was ready to sign a deal with BG to purchase part of the natural gas produced in Gaza.

Source: Xinhua