Lebanon's First Licensing Round and the Prospects of Deepwater Gas Developments
Article from: OGEL 1 (2015), in Natural Gas Developments: An International and Challenging Legal Framework
[Revised version February 2015] The Levantine Basin has recently become the focus of explorations in the Eastern Mediterranean. Significant gas discoveries were made in Cyprus (Aphrodite, 7 Tcf) and Israel (Tamar 10 Tcf, Leviathan 18 Tcf). Following the successes of its neighbours, the Lebanese government decided to encourage the development of an oil and gas industry and took significant steps, such as: enacting an Offshore Petroleum Resources Law (the "OPR Law") covering the exclusive economic zone (EEZ); preparing geological surveys; creating ...