Delays in offshore gas licensing hurt Lebanon’s prospects

The decision to delay the gas-licensing round for another six months has raised concern in international financial circles that Lebanon will most likely miss a golden chance to tap potential gas wealth in the sea in the near future.

The London-based Economist Intelligence Unit said that the delays in the issuance of gas licenses reflected the government’s failure to ratify two decrees that would outline the terms of exploration and production agreements and that would specify the number of blocks to be auctioned.

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