Lebanon’s Gas Hopes Kicked Further Down The Road
Lebanon’s hopes of joining the much-hyped East Med gas club have suffered another setback. After a decade of delays and political crises, 2020 looked to finally be the year that Lebanon stumbled its way to the starting blocks. However, plans to start offshore drilling and launch a second licensing round have both been pushed back.
Racked by socio-economic upheaval, Beirut is still hopeful that a Total-led consortium (Total 40%op, Eni 40%, Novatek 20%) will drill two wells this year, while the second offshore licensing round is still expected to close and see contract awards by year’s end.
But the specter of delays, both political an