The Strategist

QatarEnergy replaces Russians in Lebanese field development project

01/30/2023 - 08:30

Russia's Novatek has been replaced in the project to develop fields in Lebanon's exclusive economic zone in the Mediterranean Sea by Qatar's oil and gas business QatarEnergy.

Ken Lund
Ken Lund
On Sunday, a ceremony to officially welcome QatarEnergy as a partner alongside French TotalEnergies and Italian Eni was held in the Lebanese capital Beirut for the exploration and production agreements on Blocks 9 and 4.

The Qatari oil and gas corporation will contribute 30% to this project, while TotalEnergies and Eni will each contribute 35%.

Najib Mikati, the acting prime minister of Lebanon, stated during the ceremony that the beginning of development and production in Lebanese waters will have a good impact on job creation in Lebanese enterprises providing services in this industry in the short and medium term.