REPORT by LBCI states that “Lebanon’s oil more “attractive” than that of Israel When compared with Cyprus and Israel, Lebanon’s situation seems to be better. Lebanon, after delaying the launching of the first licensing round until after passing the tax law, managed to attract the interest of 3 companies, while Israel, that has postponed the licensing round three times, did not receive bids from any company. In turn, Cyprus, after postponing three times, received bids from seven companies. 13 companies participated as Right Holders Operators and 38 companies as Right Holders Non-Operators. One consortium comprising three companies (Total, ENI and Novatek) submitted two bids for the blocks 4 and 9, where Total was appointed as operator.”
Russian Companies bidding in Lebanon’s oil and gas 4-10 sectors
MEA is concerned. Russia is using Hezbollah and the Christian Orthodox in Lebanon to gain ground while US is dealing with the government whose president is Hezbollah’s ally. Both are empowering the Lebanese Army but Russia only since a month and by providing weapons in the next 6 months, while US & UK provide since years weapons and training. It was the U.S. in 2016, which ensured that oil and gas can be extracted from Lebanon’s share in the Mediterranean in a deal with Amal’s Berri (Shiite, Hezbollah’s ally).