No 5



Syria Agrees To Cut Gas Price For Deliveries To Lebanon

Syria has agreed to cut the price of gas it plans to start delivering to Lebanon from early 2004. MEESlearns that the new price formula is based on a sliding scale referenced to Dated Brent at $2.20-2.70/mn BTU, with an additional discount of 20% in the first year of exports, 15% in the second and 10% in the third and subsequent years until the initial 10-year agreement becomes due for...