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.
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.