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.
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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.