Lebanon signs gas exploration deal with international consortium.

Lebanon's government signed an agreement with a consortium including TotalEnergies, ENI and Qatar Energy to explore Block 8 off its southern coast; the companies plan a 1,200-square-kilometre 3D seismic survey to assess the area.

Lebanon's government signed a deal on Friday with an international consortium to explore for gas in an offshore area known as Block 8 off the country's southern coast. The ceremony took place at government headquarters in Beirut and was attended by Energy Minister Joe Saddi and representatives of the consortium. The signing follows a 2022 maritime border agreement between Lebanon and Israel that relates to exploration in southern waters. The move is presented as part of Lebanon's ongoing efforts to expand offshore energy activity amid its economic challenges. Key details: - The consortium is made up of France's TotalEnergies, Italy's ENI and state-owned Qatar Energy, and the agreement was signed by Lebanon's energy minister and company officials. - The companies announced they will begin with a 1,200-square-kilometre (463-square-mile) 3D seismic survey to assess Block 8's exploration potential. - Lebanon and Israel's 2022 maritime border agreement is cited as a related development that affects exploration in southern offshore blocks. - Previous exploration in other Lebanese blocks did not yield viable finds, and partner changes took place in 2023 when Qatar Energy took over a stake previously held by another firm. Summary: The agreement is described as a step to evaluate Lebanon's offshore gas prospects and is linked to broader economic considerations. The immediate next action reported by the companies is the planned 3D seismic survey of Block 8; further activity will depend on the survey results.