The Cypriot president signs a cooperation agreement with the Lebanese Chamber of Commerce.
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Lebanon wants Cyprus' help in its dispute with Israel over the offshore blocks bordering occupied Palestine, said Wissam Zahabi, head of the economics and finance department at the Lebanese Petroleum Administration.Despite the unresolved row between Lebanon and Israel over territorial waters, the Lebanese energy and water minister announced in January that the three partially disputed offshore blocks (blocks 8, 9 and 10) bordering Israel will be among the five initially up for bidding in Lebanon's first oil and gas licensing round.The Cypriot delegation came to Lebanon to discuss with Lebanese officials the potential for cooperation and investment in the different sectors in the two countries.Zahabi said the two countries can cooperate to a great extent in the oil and gas sector knowing that Cyprus has extensive experience in the field since it already succeeded in making important discoveries.Zahabi added that Cyprus can help by being a gateway to Europe for Lebanon when it comes to exporting oil and gas while Lebanon can also be a gateway for Cyprus to the Middle East.
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