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FinancialNews
30-01-23
Qatar will help Lebanon in discovering external gas following Russia’s departure
(MENAFN) Lebanon declared on Sunday that Qatar has went into a consortium to seek for external gas in the Mediterranean Sea off the Lebanese coast.
The nation is also counting on the contribution of some additional Gulf states in the consortium, as stated by a political observer.
Lebanon is hopeful that exploration and discovery of commercial amounts of oil and gas is going to support it deal with its present financial catastrophe.
The agreement is going to witness QatarEnergy obtain a minority 30 percent share in both blocks of Lebanon’s exclusive financial zone.
QatarEnergy participates with the consortium of TotalEnergies of France and Italy’s Eni firm for oil and gas exploration in both Lebanese blocks after the departure of Russia from the deal.
Lebanon’s stake might range from 54 to 63 percent following the reduction of functional and capital prices, in any instance of oil and gas discovery.
MENAFN30012023000045014228ID1105493369
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