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SOCAR, an Azerbaijani state owned power firm continues to amass stakes in strategic belongings in international nations consistent with its technique to increase manufacturing footprint. It has purchased a ten% stake in Israel’s natural gas fields in the Mediterranean Sea called Tamar.
Lebanon too could possibly be power unbiased if it had been to cease the Hezbollah and develop peaceable power pursuits. Lebanon’s Exclusive Economic Zone is part of the Levant Basin: based on the USGS estimates, Lebanon may maintain 850 bcm of offshore pure gasoline reserves and 660 million barrels of oil.
The US oil and power big Chevron already operates and holds a 25% stake within the Tamar gasoline area within the Med Sea. Other companions within the Israeli gasoline reservoir embrace Isramco, Tamar Investment 2, Tamar Petroleum, and Dor Gas.

Tamar
Since Israel first discovered pure gasoline fields off its Mediterranean coast greater than a decade in the past, and for the reason that nation has emerged as a gasoline exporter. The pure gasoline operations have put the nation on a path to power independence in a area with few pure assets.
Israel has been exporting gasoline from the Tamar area to its neighbor Jordan since 2017.
This just isn’t the primary try by SOCAR to enter the Israeli pure gasoline market however that is SOCAR’s first main funding within the Mediterranean Sea. The oil agency’s imaginative and prescient shifting ahead it so proceed looking for strategic belongings all over the world to increase its power portfolio.
In 2023, SOCAR joined a consortium together with British multinational oil and gasoline agency BP and NewMed Energy to bid for licenses to discover and uncover offshore pure gasoline fields in areas adjoining to Israel’s Leviathan area, one of many world’s largest deep-water gasoline discoveries.
Within the brand new framework, on January 31, 2025, an settlement was signed with Union Energy for the acquisition of 10% efficient possession within the Tamar area, situated offshore of Israel, one of many largest and most strategically vital gasoline fields within the Mediterranean basin.
“With this step, SOCAR has begun implementing funding in upstream initiatives within the Mediterranean area. The settlement was signed topic to sure situations being met, together with customary regulatory and different approvals,” introduced the Azerbaijani authorities.
SOCAR will proceed its efforts to amass stakes in strategic belongings in international nations sooner or later. It is a serious supply of earnings for the authoritarian regime in Azerbaijan.
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