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Qatar Joins TotalEnergies, Eni for Stake in Lebanon Gas Blocks

From bnnbloomberg.ca

QatarEnergy signed an agreement with TotalEnergies SE and Eni SpA to search for natural gas in Lebanese waters, including in a previously-contested area with Israel. Under the exploration and production agreement, the state-run Qatari company will hold 30% in offshore blocks 9 and 4 and the French and Italian energy giants will now hold 35% each, caretaker Prime Minister Najib Mikati said in a statement. The US brokered last year a historic accord that ended a dispute between long-time foes Lebanon and Israel over a potentially gas-rich area in the Mediterranean waters. Both countries had laid claim to an area ... (full story)

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  • Category: Fundamental Analysis