Lebanon: energy share to be at least 55 percent| MENAFN.COM

Monday, 08 August 2022 05:25 GMT

Lebanon: energy share to be at least 55 percent


(MENAFN) Energy and Water Minister Cesar Abi Khalil announced Friday that the share of Lebanon provided from the possible gas revenues is to be more than 55 percent which is considered as a fine deal following extended and grueling negotiations with oil companies.

The minister stated "on the commercial level, the government's cut was based on nine different scenarios. Block four, for example, the government's share ranged between 55 percent to 71 percent and this is in line with the international average. As for block nine, the state's share was from 55 percent to 63 percent."

However, according to specialists, Lebanon ought to remain on its guard regardless of previous positive projections until the oil companies extract commercial quantities of gas.

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