The need to explore and exploit offshore assets has once again risen to the top of the agenda in Lebanon as a result of the country's hardships on the one hand, and the necessary demarcation of maritime borders on the other. Against the background of the Russian attack on Ukraine, the hydrocarbon reserves of the Mediterranean have become even more important to European countries, and also more valuable to Levantine players. The Lebanese government needs to put the necessary political and regulatory frameworks in place, examine promising areas, take advantage of opportunities upstream and downstream - such as job creation, sustainable businesses, and systemic reforms - and preserve the financial assets obtained through the exploitation for the benefit of the present and future generations.The need to explore and exploit offshore assets has once again risen to the top of the agenda in Lebanon as a result of the country's hardships on the one hand, and the necessary demarcation of maritime borders on the other. Against the background of the Russian attack on Ukraine, the hydrocarbon reserves of the Mediterranean have become even more important to European countries, and also more valuable to Levantine players. The Lebanese government needs to put the necessary political and regulatory frameworks in place, examine promising areas, take advantage of opportunities upstream and downstream - such as job creation, sustainable businesses, and systemic reforms - and preserve the financial assets obtained through the exploitation for the benefit of the present and future generations.
