Lebanon to sign gas exploration deal on Friday, cabinet says

Lebanon will sign a gas exploration deal with a consortium comprising QatarEnergy, TotalEnergies and Italy’s Eni in the country’s Block 8 offshore area, the Lebanese cabinet said on Thursday.

In 2023, Lebanon granted a licence to conduct seismic studies on Block 8 to Bright Skies and GeoX.

Lebanon hopes gas and oil discoveries will help it to reverse a crippling economic crisis that has cost the local currency more than 98 per cent of its value, eroded the country’s foreign reserves and caused rolling blackouts across towns and cities.