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AP National Business

Lebanon ready to work with Cyprus on potential offshore gas

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Published 8:06 AM

By MENELAOS HADJICOSTIS
Associated Press

NICOSIA, Cyprus (AP) — The Lebanese foreign minister says Lebanon is ready to work with Cyprus to exploit potential gas deposits in waters between the two east Mediterranean countries, even though a deal on offshore rights hasn’t been formally finalized. Cyprus and Lebanon signed an agreement delineating their respective offshore exclusive economic zones in 2007,  but the Lebanese parliament has yet to ratify it amid the country’s ongoing maritime border dispute with Israel. Nevertheless, Lebanese Foreign Minister Abdallah Bou Habib said after talks with his Cypriot counterpart in Nicosia Friday that “with Cyprus there’s no problem, once we found gas we’re ready to go, put it together.”

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