QatarEnergy, ExxonMobil, and Egypt's Ministry of Petroleum have signed an MOU to explore developing and exporting gas discovered off Cyprus via Egypt's infrastructure to European markets.
One Nation proposes replacing the offshore gas profits tax with a royalty regime and acquiring 30% equity stakes in new ventures. Leader Pauline Hanson aims for "vastly greater returns" for Australian taxpayers, drawing criticism for importing ideas from Venezuela.
Israel's military occupation of southern Lebanon now extends into maritime territory, creating a 9 km strip of Lebanese waters under Israeli control. This threatens Lebanon's hopes of developing offshore gas reserves, which were the focus of a 2022 US-mediated border deal. Total's planned exploration in Block 8 now appears highly unlikely as hostilities continue, dealing a blow to Lebanon's hopes of solving its chronic energy shortage.
