The agreement signed with Russia's Rosneft on the operation and restoration of oil storage facilities in the Lebanese city of Tripoli will be the beginning of the restoration of the oil industry in Lebanon, Lebanese Minister of Energy and Water Resources Cesar Abi Khalil said Friday
BEIRUT (Pakistan Point News / Sputnik - 25th January, 2019) The agreement signed with Russia's Rosneft on the operation and restoration of oil storage facilities in the Lebanese city of Tripoli will be the beginning of the restoration of the oil industry in Lebanon, Lebanese Minister of Energy and Water Resources Cesar Abi Khalil said Friday.On Thursday, Rosneft said that it will be able to conduct operational management of a terminal to store oil products in Tripoli, noting that the agreement with Lebanon envisioned work on rebuilding and enlarging the facility.
"Such an agreement will allow Lebanon to begin the process of restoring the oil industry ... Improvement and development [of oil storage] in Tripoli will allow storing of 450,000 tonnes, and this reserve will be enough for Lebanon for two months. The storage facilities were modernized in the 1970s and were operated until the 1980s, and then were damaged during the war," the minister said at a press conference.
Abi Khalil also noted that within the framework of the agreement, oil storage facilities that broke down during the 1975-1990 civil war in Lebanon would be restored, and the existing oil refineries would be expanded.
In 2006, a conflict occurred between Israel and Lebanon, which lasted 34 days. In 2011-2017, some fighting from the Syrian conflict spilled over into Lebanon.
