Skip to main content

Qatar's energy giant cements Lebanon deal, substituting Russia

The Qatari firm officially took over the stake previously held by a Russian company.
ANWAR AMRO/AFP via Getty Images

QatarEnergy formally agreed Sunday to take a stake in Lebanon’s offshore energy exploration blocks, substituting Russia's Novatek in a deal that US envoy Amos Hochstein helped broker. 

The deal was signed in Beirut with France’s TotalEnergies and Italy’s Eni. QatarEnergy took a 30% stake in Blocks 4 and 9 in Lebanon’s Mediterranean Sea territory, while TotalEnergies and Eni will now each have a 35% stake, according to a press release. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 per year.