The Natural Gas Giant To Challenge Israel

5 Oct 2017   Israel, Lebanon, Russia

When Lebanon’s Prime Minister Saad Hariri paid a visit to Russian President Vladimir Putin mid-September , most media coverage revolved around political and military issues. Yet the meeting was part of Mr. Hariri’s charm offensive to attract foreign investors to Lebanon’s offshore zone, a long-cherished glimmer of hope for the heavily indebted country that has suffered from chronical political paralysis for some decades already. After a 29-month deadlock during which Lebanon had no president, the team of Hariri and President Michel Aoun was determined to provide a much-needed boost to end legislative obstructionism and get down to work. Although Lebanon’s offshore licensing round officially began in 2013, the bids of pre-qualified companies are due by October 12, 2017. But is the four-year wait worth it? If, 10 years ago, Lebanese officials mooted the possibility of kick-starting gas imports from Syria under a 25-year term agreement (never materialized, as Syria […]

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