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09-01-14

Lebanon delays gas licensing round again

(MENAFN) Lebanon has delayed its first offshore gas licensing round for the third time to April, after the country failed to form a government, The Peninsula Qatar reported. The country's Energy Minister, however, vowed to go on with the next set bidding round whether a new government has been formed or not. He said: "As far as I am concerned as minister of energy and water, this is the last time I will delay the tender." The country has an estimated 96 trillion cubic feet of gas reserves. There are 46 companies which have pre-qualified to bid for gas exploration in Lebanon, but bidding has been repeatedly delayed.