Rosneft has reached an agreement with the Ministry of Energy and Water of the Lebanon Republic – Lebanon Oil Installations to take on the operational management of an oil products storage terminal in Tripoli.
The agreement, which means that Rosneft will take on management of the facility for 20 years will also consider the rehabilitation and expansion of the facility.
Igor Sechin, CEO of Rosneft, says: ‘The implementation of projects in the Middle East is one of the company’s strategic development directions.
‘The agreement will allow Rosneft to strengthen its presence in the region and improve the efficiency of its existing integrated supply chains and also will contribute to the development of the company’s international trading.
‘We hope to further expand co-operation with Lebanon and to implement other potential projects in the oil and gas sector in this country.’