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Tueni says contract signed with ‘Rosneft’ is a strategic step toward rebuilding energy sector

"The contract signed between Caretaker Energy Minister, Cesar Abi Khalil, and the Russian Company, Rosneft, which won the tender for the storage of oil in the North, is a bold and strategic step in rebuilding the energy sector in Lebanon," said Caretaker State Minister for Combating Corruption, Ncoula Tueini, on Saturday.

He noted that the Caretaker Energy Minister has revealed that talks are also underway with Iraq and Syria to revive the oil pipeline with Iraq, which connects between Kirkuk and the Mediterranean coast in Tripoli.

"When these steps are completed, the strategic value of the Lebanese coast and the North will rise, not to mention that the storage of petroleum materials in Lebanon increases the State's competitive value and provides a kind of strategic economic security in energy," said Tueni.

"The Russian Company's success in signing the contract resulted from its financial offer that came out best. This does not negate the geo-strategic results of this win that has crowned the Lebanese-Russian bilateral relations," he added.

"The presence of Russian oil in Tripoli is also a driving force for exploration in the Lebanese marine waters...in addition to involving the Lebanese technical workforce in a magnified economic movement," Tueni corroborated.

Source: National News Agency