Consulting on International Energy Geopolitics and Political Risk on Russia, Eurasia and the Middle East
Tuesday, July 23, 2013
Lebanon a new El Dorado for gas and oil business
Recently i have been watching amazed how world media has given a massive coverage to recents new discoveries of gas and oil fields in Lebanon, and no wonder this country is launching its 3rd edition of Oil and Gas Summit this coming december, to promote itself as a new El Dorado for the oil and gas business in the mediterranean. I was amazed as well as how many international and state oil companies have decided to invest in this new frontier of energy field such as PETROBRAS, CNPC, CHEVRON, EXXONMOBIL, and the likes, giving a new fresh air to this everstanding war scenario like always has been the lebanese territory, but this time in a positive way. Many things remain uncertain on how they are going to be settled and solved like the border issues between Lebanon and Israel (on how borders and oil and gas blocs will be delineated since Israel is experiencing its own energy boom as well), the consolidation of a solid lebanese government that could reinforce and bring securiy for a long term to all the contracts signed with the IOC´s and NOC´s and the reduction of the political instability now coming from Syria, the role that Hezbollah will play in this new energy geopolitical arena, and what could be the position adopted by the OPEC countries on a situation like the one Lebanon is living now that has oil and gas. What are the stance that Washington could take towards Beirut and the energy business? Umm this could be a balancing act between Tel Aviv and Beirut for the White House on which energy environment to boost and support the most, having Hezbollah in the middle of all this.... Besides all these issues, and many more to come, i think that Lebanon might be the new El Dorado in the energy international cartography.
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