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Israel and Total hold talks in Paris on profit sharing from gas field off Lebanon: source

A senior Israeli official was in Paris on Monday for talks with TotalEnergies SE over possible future participation in profits from exploration by the company in a natural gas field offshore Israel and Lebanon, an informed source told Reuters. on this subject.

The prospects for the Qana field, long disputed by neighboring countries that are technically at war, have been central to US-publicized efforts to delineate a maritime border between them.

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A draft agreement to which the two countries have given preliminary approval would involve Israel collecting partial royalties from future Lebanese-licensed commercial exploration at Qana, Israeli Prime Minister Yair Lapid said on Sunday.

Lior Schillat, director general of Israel’s Energy Ministry, was in Paris “speaking with officials from Total”, said the source, who declined to be identified by name or nationality.

“The purpose of the meetings is to set up a mechanism whereby Total would pay Israel a portion of the royalties on any gas it produces at Cana,” the source said.

TotalEnergies declined to comment. Israel’s Energy Ministry had no immediate comment.

Read more: TotalEnergies could help Lebanon in the maritime demarcation with Israel: President Aoun