Lebanon to Issue Gas Drilling Tenders

Lebanon is planning to issue and sign international tenders for drilling in Mediterranean waters in the next three months, Reuters reported Thursday.

The move comes after two natural gas fields were discovered off the coast of Israel, Lebanon's southern neighbour. Estimates value those reserves at tens of billions of dollars.

Lebanon has yet to explore off its own coast but on Wednesday its cabinet approved plans to implement a law on drilling that would pave the way for international tenders.