Israel Develops Gas Fields While Lebanon Awaits: An Energy Divide Amid Conflict

News Bulletin Reports
2024-08-20 | 11:33
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Israel Develops Gas Fields While Lebanon Awaits: An Energy Divide Amid Conflict
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2min
Israel Develops Gas Fields While Lebanon Awaits: An Energy Divide Amid Conflict

A report by Toni Mrad, English adaptation by Nadine Sassine

More than ten months into the Israeli war in Gaza, Israel continues its attacks on one front while advancing its gas and oil sector on another.

Recently, Energean, the company exploring gas in Israeli fields, announced in mid-July that it would invest approximately $1.2 billion to develop the "Katlan" field, located between the Karish and Tanin fields off the coast of Israel.

Gas production from this field is expected to begin in the first half of 2027, with confirmed and potential reserves estimated at 1.10 trillion cubic feet.

However, these developments are unfolding against the backdrop of ongoing threats to Israel's economic waters, especially after the Israeli army shot down several drones launched from Lebanon, which were reportedly headed towards the Karish field.

Hezbollah, however, did not claim responsibility for these drones. Despite this, a spokesperson for Energean confirmed to LBCI that the company's operations in Israel continue unaffected.

While Israel pushes forward, Lebanon lags behind in its own gas exploration efforts. The country is still awaiting a report from TotalEnergies regarding the results of drilling in Block 9, which was initially expected in March.

TotalEnergies has cited delays in completing the report, while a ministerial source told LBCI that the Lebanese government is reluctant to press the French company on the matter. Hezbollah officials, on the other hand, accuse the US of obstructing Lebanon's gas exploration efforts.

In this context, during recent visits by US envoy Amos Hochstein to Lebanon, he indicated that if a ceasefire is reached on the Lebanese front, progress could be made on Lebanon's oil and gas file.

Ultimately, while Israel extracts and invests in its gas reserves, Lebanon remains a spectator, waiting for its turn.

Lebanon News

News Bulletin Reports

Middle East News

Israel

Lebanon

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