Lebanon Postpones The Launching of Its Bidding Round, Again

Lebanon just postponed again the start of its bidding round scheduled for 10 January 2014, and to no surprise. Two essential decrees, one delimitating the offshore blocks and the second approving the model sharing agreement, remain outstanding. The issuance of those two essential pieces of legislation was complicated by Lebanon’s current political void as the country is operating under a caretaker government that does not hold such a power ipso facto. A special session held by the caretaker government to discuss and approve the decrees was not endorsed by the President and the caretaker Prime Minister. Caretaker minister of water and energy Gebran Bassil will hold a press release on 10 January 2014 to clarify the next steps for Lebanon and determine a new date for the launching of the licensing round.

Our natural gas wealth is our salvation from the indecent life we are forced to live in Lebanon.

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