Kuwait and Lebanon signed here Monday a gas oil deal, under which Kuwait will supply Lebanon with 500,000 tons of gas oil per year.

The accord was signed between the two sides during Lebanese Prime Minister Fouad Siniora's one-day visit to Kuwait, said Kuwaiti Energy Minister Sheikh Ahmad Al-Fahd Al-Sabah while seeing off Siniora after the visit.

Sheikh Ahmad was quoted by the Kuwaiti News Agency as saying that "according to the agreement, Kuwait will supply Lebanon with 500,000 tons of gas oil per year for three years valued at a total of between 700 million and 800 million US dollars."

The accord "reflects the spirit of cooperation" between the two sides, he said, adding that talks were still going on to supply Lebanon with larger quantities of gas oil and with fuel oil.

Sheikh Ahmad said that the accord would not only be commercially "positive to both sides" but be useful at technical level by ensuring a continuous supply of fuel to "our brothers the Lebanese".

Before his departure, Siniora expressed gratitude to Kuwait for all it had done to Lebanon, adding "we are also trying to develop cooperation with Kuwait in other areas, specifically in the economic sector."

Source: Xinhua