Lebanon joins east Mediterranean rush

摘要

International interest in offshore oil and gas exploration in the eastern Mediterranean is gaining momentum, with Lebanon aiming to hold its first exploration licensing round by the end of this year. Lebanon is lagging behind Israel and Cyprus in developing its upstream sector. Israel's 8.4 trillion ft3 (238bn m3) Tamar field, a $3bn development, is due on stream next year. Cyprus has concluded a successful second bidding round, and last month announced plans to build an LNG export terminal to monetise its expected gas bonanza (WPA, 29 June, p15).