Berri Urges Government to Take Action after Discovery of Leviathon Natural Gas Reserve
Speaker Nabih Berri said Lebanon should immediately issue decrees for the implementation of the oil law adopted by parliament and pressure the U.N. to delineate the country's sea borders with Israel.
Berri made his remark to As Safir newspaper on Thursday after the largest reserve of natural gas, over 16 trillion cubic feet, was discovered off the coast of Israel.
U.S. company Noble Energy Inc. announced on Wednesday that the Leviathon reserve is estimated to be worth more than $95 billion. It is the largest amount of natural gas discovered in the world in the last decade and is located in approximately 1,645 meters of water, about 130 kilometers offshore of Haifa and 47 kilometers southwest of the Tamar discovery.
Berri urged the Lebanese government to study the Israel-Cyprus agreement that defines their sea border and allows the neighbors to forge ahead in the search for energy sources in the eastern Mediterranean.
The speaker made his advice for fears that the deal could violate Lebanon's rights. He also told As Safir newspaper that a specialized company should immediately start operations to explore oil in Lebanese waters.
He unveiled that the CEO of the Italian Enny company has informed him that an oil field in Lebanese territorial waters valued 76 billion dollars.
"This number is enough to solve the economic problem and even contribute to building the defense strategy," Berri told As Safir.
He also criticized some Lebanese officials for doubting such information during a National Dialogue session at Baabda palace.
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