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Gas exploration off southern Lebanon will finally be able to begin. Qatar entered, on Sunday January 29, like the French TotalEnergies and the Italian ENI in the consortium responsible for exploiting this maritime zone on the border with Israel.
Qatar will hold 30% of the shares in this consortium, against 35% for TotalEnergies and 35% for ENI. The Gulf emirate takes the place of Russia’s Novatek, which withdrew from the project in 2022.
Qatar’s involvement not only provides financial support for this project, but above all constitutes a political guarantee, in particular because of the existing links between Qatar and Western countries and even Israel, believes energy expert Naji Abi Aad interviewed by AFP.
Exploration could therefore begin in the potential field of Cana, part of which is located in the territorial waters of Israel. The Jewish state will receive financial compensation according to an agreement signed last year with Lebanon after a long American mediation.
According to the CEO of TotalEnergies, the exploration process should be completed in about a year. A possible gas discovery would be a breath of hope for Lebanon plunged into an unprecedented economic crisis. But the country would have to wait several years before the launch of production.
► See also Maritime border: the “historic” agreement with Israel offers Lebanon encouraging prospects