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Lebanon to Sign Deal with Energy Giants for Gas Exploration

Published January 8, 2026, 14:19
Lebanon to Sign Deal with Energy Giants for Gas Exploration

Lebanon is on the verge of signing an agreement with TotalEnergies, Eni, and QatarEnergy for gas exploration in Block 8. This move is part of a broader effort by Beirut to revitalize its energy sector and address the severe economic crisis plaguing the country. Previously, in 2023, licenses for seismic surveys were granted to Bright Skies and GeoX, paving the way for the current phase. The Lebanese government hopes that potential gas and oil production will significantly contribute to economic recovery, given that the national currency has lost over 98% of its value and foreign exchange reserves have dwindled dramatically. This agreement marks a critical moment for Lebanon as it seeks to leverage its natural resources to overcome its economic hardship.