Lebanese president calls for U.S. participation in domestic oil, gas projects

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Lebanese President Michel Aoun

Beirut (Xinhua) Lebanese President Michel Aoun on Monday called on the U.S.  to take part in oil and gas exploration in Lebanon, the Presidency’s website reported.

“We call upon American companies to participate in the oil and gas exploration in Lebanon in addition to other projects as well,’’ Aoun was quoted as saying during his meeting at Baabda Palace with a delegation from the American Task Force for Lebanon (ATFL).

ATFL chairman Edward Gabriel, emphasised the importance of the meeting with President Aoun to highlight potential investment opportunities by the U.S. in Lebanon.

Lebanese Energy Minister, Nada Boustani, announced earlier this year the launch of Lebanon’s second licencing round for offshore oil and gas exploration in five blocks with a deadline to submit offers by January 2020.

In February 2018, Lebanon signed its first offshore oil and gas exploration and production contracts for two energy blocks with a consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

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