With its cabinet finally functional again, Lebanon is poised to push forward with a decades old plan to import and regasify LNG with floating storage regasification units (FSRUs) on its coastline. Within weeks, the cabinet is expected to decide which of the eight bidders (see table) will finance, build and operate the three planned FSRUs.
MEES understands that, per the terms of the tender, the contract will include a lucrative gas sales component over a ten-year deal starting in 2021. The request for proposals (RFP) includes provisional volumes based on market demand and also includes stipulations in the case that Lebanon discovers gas in its own upcoming offshore drilling campaign (MEES, 1 March). (CONTINUED - 1072 WORDS)