BG Said to Sell Gas Field Off Gaza After Israel Blocks Project

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BG Group Plc, the U.K.’s third-largest oil and gas producer, will sell a gas field off the Gaza Strip after its development was blocked by Israel, according to two people with knowledge of the matter.

The company may get $70 million to $80 million for the Gaza Marine field, one of the people said, declining to be identified because the talks are private. A spokesman for Reading-based BG declined to comment.