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Lebanon and Israel face more offshore gas challenges

Content type:: Expert Briefings
Location:: LEBANON/ISRAEL
Keywords associated with this article:: Geographic: Lebanon Israel ME/NAF Cyprus Egypt Europe Jordan Russia Syria United States LEBANON/ISRAEL

Topical: economy industry international relations energy foreign investment foreign trade gas oil
ISSN:: 2633-304X
Citation:: Oxford Analytica (2023), "Lebanon and Israel face more offshore gas challenges", Expert Briefings.
https://doi.org/10.1108/OXAN-DB276836

Monday, March 20, 2023

Significance

The pipeline to deliver Eastern Mediterranean gas to European markets would begin by supplying Italy from Israeli offshore fields, including Karish, which produced Israel’s first-ever oil export cargo on February 15. Karish was formerly disputed with Lebanon, which is also looking to develop its offshore gas.

Impacts

Corruption allegations and economic freefall will deter further foreign investment in Lebanon’s oil and gas sector.
Political differences will block a tripartite Lebanon-Cyprus-Syria deal on delineating maritime borders.
Israel will struggle to attract the investment required to achieve a step-change in its gas export capacity.

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Significance

Impacts

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