Lebanon Launches Tender to Import LNG

Lebanon on Friday launched a tender to import LNG in an attempt to cut the country’s energy costs by $2 billion per year, Daily Star newspaper citing the caretaker energy and water minister.

The project involves the construction of a facility to convert the LNG to natural gas, according to the newspaper.

“Lebanon will only pay for the gas from the factory without bearing the cost of the construction of this plant, in accordance with a contract with the companies that sell gas in certain quantities,” the minister said.

While the contract is expected to be signed in third and fourth quarter of 2014, the plant is expected to be ready in 18 months.

The deadline for bids is Dec. 23.

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