Prime Minister Tammam Salam heads a Cabinet session at the Serail in Beirut, Friday, April 25, 2014. (The Daily Star/Hasan Shaaban)
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The decision to delay the gas-licensing round for another six months has raised concern in international financial circles that Lebanon will most likely miss a golden chance to tap potential gas wealth in the sea in the near future.The London-based Economist Intelligence Unit said that the delays in the issuance of gas licenses reflected the government's failure to ratify two decrees that would outline the terms of exploration and production agreements and that would specify the number of blocks to be auctioned. It said Lebanon would not be able to dictate strong commercial terms to international oil companies if the process is further delayed.
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