Lavrov discussed conditions for work on Rosneft's expansion in Beirut with Lebanese Foreign Minister

22 November

Russian Foreign Minister Sergey Lavrov discussed with Lebanese Foreign Minister Abdallah Bou Habib the creation of conditions for the start of work to modernize and expand Rosneft's terminal for storing oil products in the port of Beirut.

"A big project is underway at Rosneft, which owns a terminal for storing petroleum products in the port of Beirut. There are already concrete plans to modernize and expand this terminal. Today we have discussed with our colleagues what steps to prepare the conditions to start the relevant works should be taken as soon as possible. The Lebanese Energy Ministry will send us relevant proposals and we will respond to them", he said on Monday during a press conference following talks with the Foreign Minister of Lebanon.

Lavrov also added that the Russian company Novatek was operating in Lebanon and "is engaged in exploration and production of hydrocarbons and plans to drill another well on the shelf early next year."

Lavrov said he discussed with his Lebanese counterpart the activities of Rosneft and Novatek to develop the Lebanese energy sector.

"In addition, we talked about joint efforts, including Novatek and Rosneft, to develop the Lebanese energy sector, including drilling on the continental shelf, which Novatek is doing now, and developing the oil products storage terminal, which Rosneft owns, in the Lebanese port," he said at a press conference following the talks.

Due to problems with fuel oil supplies, the State Electricity Company of Lebanon reduced the summer power supply to minimum and two of the four thermal power plants stopped working. The situation worsened after the Lebanese Central Bank decided on August 12 to cancel state subsidies on fuel and lubricants due to a reduction in foreign currency reserves, which caused a wave of street protests and long lines at gas stations.

On September 22, the Ministry of Energy and Water Affairs of Lebanon announced a 15% increase in the price of petrol and fuel oil, earlier in August the increase in petrol and fuel oil prices was 66%



GSV "Russia - Islamic World"

Photo: Creative Commons

Based on materials from TASS