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    Lebanon waives TotalEnergies' share in gas exploration consortium

Summary

Lebanon's caretaker cabinet on Wednesday approved a decision to waive TotalEnergies' 40% stake in a consortium to explore the country's maritime Bloc 9.

by: Reuters

Posted in:

Complimentary, Natural Gas & LNG News, Middle East, Exploration & Production, Licensing rounds, Contracts and tenders, News By Country, Lebanon

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Lebanon waives TotalEnergies' share in gas exploration consortium

TotalEnergies was leading a consortium of three companies to explore two maritime blocs off the Lebanese coast for possible gas.

Russian firm Novatek, which had a 20% stake, pulled out in October and talks had been underway to find a replacement partner. In the interim, the 20% stake had gone to the Lebanese government.

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Under the new arrangement spelled out in Wednesday's cabinet decision, TotalEnergies' share would go to firm DAJA 215 while the Lebanese state’s share would temporarily go to DAJA 216.

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