Lebanon Says to Take Novatek’s 20% Share in Oil and Gas Consortium

A base for United Nations peacekeepers of the UN Interim Force in Lebanon (UNIFIL), in Naqoura near the Lebanese-Israeli border, southern Lebanon, Nov. 11, 2020. (Reuters)
A base for United Nations peacekeepers of the UN Interim Force in Lebanon (UNIFIL), in Naqoura near the Lebanese-Israeli border, southern Lebanon, Nov. 11, 2020. (Reuters)
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Lebanon Says to Take Novatek’s 20% Share in Oil and Gas Consortium

A base for United Nations peacekeepers of the UN Interim Force in Lebanon (UNIFIL), in Naqoura near the Lebanese-Israeli border, southern Lebanon, Nov. 11, 2020. (Reuters)
A base for United Nations peacekeepers of the UN Interim Force in Lebanon (UNIFIL), in Naqoura near the Lebanese-Israeli border, southern Lebanon, Nov. 11, 2020. (Reuters)

Lebanon said on Monday it will take over Novatek's 20% share in a consortium licensed to explore two offshore oil and gas blocs after the Russian gas giant decided to quit.

The energy ministry said in a statement it had taken the decision to enter the consortium instead of Novatek and had asked it to waive its share in favor of the Lebanese state.

Novatek did not respond to a request for comment.

In August, the ministry said it had been told of a decision by Novatek to withdraw from the consortium, which is led by France's TotalEnergies and includes Italy's Eni.

The consortium in 2020 completed exploratory drilling in Lebanon's offshore Bloc 4 off the coast of Beirut and said it had not found a commercially viable amount of hydrocarbons.

It decided to postpone drilling in southern Bloc 9 in 2020, citing the COVID-19 pandemic.

Lebanon's second licensing round, initially approved in April 2019 in just two blocs, has been extended several times and increased to cover all eight remaining offshore blocs.

Laury Haytayan, a Lebanese oil and gas expert, said the country's three-year financial crisis raised questions about whether the cash-strapped state had the capacity to participate.

"It's important to understood if there are any financial commitments on the Lebanese state and how they are going to fulfil these commitments considering the financial situation in the country," Haytayan said.



Hamas Names Four Israeli Female Soldier Hostages to Be Freed in Second Swap

 Palestinians walk on the rubble of destroyed houses, after the ceasefire deal between Israel and Hamas, in Gaza City, Gaza Strip, Friday, Jan. 24, 2025. (AP)
Palestinians walk on the rubble of destroyed houses, after the ceasefire deal between Israel and Hamas, in Gaza City, Gaza Strip, Friday, Jan. 24, 2025. (AP)
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Hamas Names Four Israeli Female Soldier Hostages to Be Freed in Second Swap

 Palestinians walk on the rubble of destroyed houses, after the ceasefire deal between Israel and Hamas, in Gaza City, Gaza Strip, Friday, Jan. 24, 2025. (AP)
Palestinians walk on the rubble of destroyed houses, after the ceasefire deal between Israel and Hamas, in Gaza City, Gaza Strip, Friday, Jan. 24, 2025. (AP)

Palestinian group Hamas announced the names on Friday of four Israeli women soldier hostages to be released in exchange for Palestinian prisoners in the second swap under the ceasefire deal in Gaza.

Karina Ariev, Daniella Gilboa, Naama Levy and Liri Albag would be released on Saturday, the group said.

The exchange, expected to begin on Saturday afternoon, follows the release on the ceasefire's first day last Sunday of three Israeli women and 90 Palestinian prisoners, the first such exchange for more than a year.

Prime Minister Benjamin Netanyahu's office confirmed that the list had been received from the mediators. Israel's response would be presented later, it said in a statement.

Israeli media reported that the list of hostages slated for release was not in line with the original agreement, but it was not immediately clear whether this would have any impact on the planned exchange.

In the six-week first phase of the Gaza ceasefire, Israel has agreed to release 50 Palestinian prisoners for every female soldier released, officials have said. That suggests that 200 Palestinian prisoners would be released in return for the four.

The Hamas prisoners media office said it expected to get the names of 200 Palestinians to be freed on Saturday in the coming hours. It said the list was expected to include 120 prisoners serving life sentences and 80 prisoners with other lengthy sentences.

Since the release of the first three women on Sunday and the recovery of the body of an Israeli soldier missing for a decade, Israel says 94 Israelis and foreigners remain held in Gaza.

The ceasefire agreement, worked out after months of on-off negotiations brokered by Qatar and Egypt and backed by the United States, halted the fighting for the first time since a truce that lasted just a week in Nov. 2023.

In the first phase, Hamas has agreed to release 33 hostages in exchange for hundreds of Palestinian prisoners held in Israeli jails.

In a subsequent phase, the two sides would negotiate the exchange of the remaining hostages and the withdrawal of Israeli forces from Gaza, which lies largely in ruins after 15 months of fighting and Israeli bombardment.

Israel launched the war following the Hamas attack on Oct. 7, 2023, when fighters killed 1,200 people and took more than 250 hostages back to Gaza, according to Israeli tallies. Since then, more than 47,000 Palestinians have been killed in Gaza, according to health authorities there.

The release of the first three hostages last week brought an emotional response from Israelis. But the phased release has drawn protests from some Israelis who fear the deal will break down after women, children, elderly and ill hostages are freed in the first phase, condemning male hostages of military age whose fate is not to be resolved until later.

Others, including some in the government, feel the deal hands a victory to Hamas, which has reasserted its presence in Gaza despite vows of Israeli leaders to destroy it. Hardliners, including Finance Minister Bezalel Smotrich, have demanded that Israel resume fighting at the end of the first phase.

Most of Hamas' top leadership and thousands of its fighters have been killed but the group's police have returned to the streets since the ceasefire.