Middle East > Lebanon > Petroleum / Mining
Petroleum / Mining in Lebanon
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Further Delays Threaten Lebanon's Gas Plans
LEBANON, 2013/09/05 A caretaker government that fails to vote on the two essential decrees that will launch the licensing round by approving the model exploration and production sharing agreement and endorsing the demarcation of the 10 offshore blocks in Lebanon's 22,730 square kilometer exclusive economic zone (EEZ); a new government that is from presently on to be formed; an upcoming Western intervention in Syria that threatens to spill over into Lebanese territory at any time; divisions amongst political groups unable to acknowledge on putting oil and gas explorations on the top of Lebanon’s priority inventory; a general feeling of instability that scares off investors and puts a question mark on Lebanon’s hydrocarbon plans; a bidding round postponed from November 4 to December 10 decreasing the government’s credibility to stick to a plan: that is currently the situation in Lebanon.
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