On the 23 July 2021, the Deputy Prime Minister and Acting Minister of Foreign Affairs Zeina Akar signed a Memorandum of Understanding (MOU) extending over a duration of five years between Lebanon and Cyprus related to the oil and gas sector. The MOU defines the following objectives:
• Establish a general framework of cooperation in the oil and gas sector, for the mutual benefit of both parties including common and cross-border infrastructure
• Exchange of best practices, regulatory framework and sector expertise
• Strengthen collaboration in training the scientific and technical staff in both countries.
A structured dialog will be initiated between the relevant public institutions in the two countries to activate this MOU in the near future.