Israel-Lebanon gas deal proceeds with TotalEnergies, Eni agreement
The agreement will allow the French and Italian energy companies to move forward with gas exploration off the coast of Lebanon.
Israel signed an agreement with TotalEnergies and Eni today following its maritime border deal with Lebanon that was signed last month.
What happened: The French energy company TotalEnergies and the Italian energy company Eni signed a deal with Israel to begin energy exploration in Block 9, which lies within Lebanon’s territorial waters. The exploration “might” extend into Israel’s waters, according to a TotalEnergies press release.
TotalEnergies owns 60% of Block 9 and Eni owns the remaining 40%.
What it means: Israel and Lebanon signed a US-mediated agreement on their long-disputed maritime border last month. The deal stipulated where each country can conduct energy exploration. Israel can also reportedly claim a percentage of Lebanon’s future profits from any gas found in the area.
