Gas and Oil Exploration in Lebanon: A Complex Path to Prosperity and Power

Gas and Oil Exploration in Lebanon: A Complex Path to Prosperity and Power

Apparently, the settlement is hindered due to a major external conflict and a minor internal one. The first is the strategic rivalry between the United States and its allies and Iran and its allies over influence. The second is the internal power struggle within local forces for power shares over the next six years.

However, at its core, it's also a race for billions. Everyone wants to secure their position in a country that the dormant wealth might save beneath the seabed, if allowed to emerge "safely" from under the water.

A fundamental reason drives the French mediator, Jean-Yves Le Drian, to stick to his initiative and call for a dialogue among political forces in September. It's about creating a suitable atmosphere for the company "TotalEnergies EP" to launch the gas exploration process in Bloc 9. This presents a promising investment opportunity for the French company, following an unsuccessful experience in Bloc 4 in early 2020.

After waiting for almost ten months following the signing of the border demarcation agreement with Israel, the company started its field operations on the site. It is expected to be able to provide its report on the exploration results by November.

According to several studies, experts estimate that