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FINANCIAL NEWS
Lebanon delays gas licensing round again
09 Jan 2014
(MENAFN) Lebanon has delayed its first offshore gas licensing round for the third time to April, after the country failed to form a government, The Peninsula Qatar reported.
The country’s Energy Minister, however, vowed to go on with the next set bidding round whether a new government has been formed or not.
He said: “As far as I am concerned as minister of energy and water, this is the last time I will delay the tender.” The country has an estimated 96 trillion cubic feet of gas reserves.
There are 46 companies which have pre-qualified to bid for gas exploration in Lebanon, but bidding has been repeatedly delayed.
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