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Lebanon welcomes Russia’s participation in developing offshore fields — official

February 09, 22:31 UTC+3 BEIRUT

"Russia’s assistance in development of the oil and gas sector is critical for the Lebanese state," an adviser to the country's premier said

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BEIRUT, February 9. /TASS/. The government of Lebanon is "satisfied with participation of the Russian company in the consortium that will develop offshore fields of hydrocarbons in the Mediterranean," adviser to the Prime Minister of Lebanon for Russian affairs George Shaaban told TASS on Friday. The official attended the ceremony on the occasion of contracts’ signing with the international consortium of Russia’s Novatek, France’s Total, and Italian Eni.

"We work for broad engagement of Russian partners in large-scale and promising projects in Lebanon," Shaaban said. "This topic was discussed in detail during talks in Sochi between Prime Minister Saad Hariri and President Vladimir Putin last September," Shaaban said.

"Russia’s assistance in development of the oil and gas sector is critical for the Lebanese state," the adviser said. In particular, it is planned that Russia will later help to build a liquefied natural gas production facility on board of a floating platform near the Lebanese coasts, Shaaban added.

According to terms of the contract, Novatek and its partners will be granted a right to perform exploration during 5-10 years. If commercial reserves are proved, the consortium members should present a development plan for them to the government of Lebanon and will be able to receive a right to tap gas and oil during 25 years after its approval with an extension option.

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