The TotalEnergies logo of the French oil and gas company’s headquarters in La Défense, near Paris, October 12. (Credit: Gonzalo Fuentes/Reuters/File)
Lebanon and Israel signed a US-mediated maritime border agreement today that allows Lebanon to start gas exploration in its exclusive economic zone and there are hints that Qatar Energy could soon join the TotalEnergies-led consortium licensed to explore Lebanon’s offshore gas fields.Initially composed of France’s Total (with 40 percent of shares), Italy’s Eni (40 percent), and Russia’s Novatek (20 percent), the consortium was in 2018 awarded two of the 10 blocs in Lebanon EEZ, including Bloc no. 9, which is located in waters disputed with Israel.Novatek pulled out from the consortium in October and its 20-percent stake went to the Lebanese government.In an interview with Reuters Wednesday, Caretaker Energy Minister Walid Fayad suggested another change in the consortium’s structure was imminent.Operators and non-operatorsAccording to...
Lebanon and Israel signed a US-mediated maritime border agreement today that allows Lebanon to start gas exploration in its exclusive economic zone and there are hints that Qatar Energy could soon join the TotalEnergies-led consortium licensed to explore Lebanon’s offshore gas fields.Initially composed of France’s Total (with 40 percent of shares), Italy’s Eni (40 percent), and Russia’s Novatek (20 percent), the consortium was in 2018 awarded two of the 10 blocs in Lebanon EEZ, including Bloc no. 9, which is located in waters disputed with Israel.Novatek pulled out from the consortium in October and its 20-percent stake went to the Lebanese government.In an interview with Reuters Wednesday, Caretaker Energy Minister Walid Fayad suggested another change in the consortium’s structure was imminent.Operators and...