East Mediterranean
Lebanon
Lebanon’s corrupt and inefficient government has long hindered development. The new government is talking a good game – particularly on powergen – but real reforms are needed to right the ship.
State of Play
Lebanon is dreaming of gas riches with a Total-led consortium set to drill in 2019. However the country faces more pressing concerns. Donors contributed $12bn at April’s Cedre conference in Paris, in hope to benefit Lebanon's creaky infrastructure and troubled economy. But the government does have to first overcome widespread corruption.
2019 In Numbers
| Peak Load | 2.1 | GW |
| GDP | 56.7 | $bn |
| Growth | 1 | %GDP |
| Debt | 85.4 | $bn |
| Debt to GDP | 149 | % |
18 Nov, 2022
Featured
TotalEnergies-Israel Deal Clears Way For Drilling Lebanon Field
After last month’s landmark boundary deal, TotalEnergies and Israel have signed a compensation framework enabling the French firm to drill the cross-border Qana prospect. As a price for refusing to recognize Israel, Beirut has subcontracted part of its sovereignty to the French firm.
Lebanon Offshore Acreage & Key Infrastructure
NEWS IN BRIEF
Iran-Lebanon Fuel Convoy Struck
11 Nov, 2022
Lebanon-Israel Maritime Border Deal Ratified
28 Oct, 2022
IMF Slams Lebanon
23 Sep, 2022
Lebanon Takes Novatek Block 4 & 9 Stakes
23 Sep, 2022
Shell Appoints Wael Sawan New CEO
16 Sep, 2022
Iraq-Lebanon HFO Deal: 1-Year Extension
19 Aug, 2022
Iraq To Renew Lebanon Power Fuel Deal
8 Jul, 2022
SELECTED DATA
Off A Cliff: Lebanon’s Economy Is Set To Contract 25% This Year (GDP Growth, %)
Lebanon GDP Growth Was Forecast At -10.9% For 2020...And That Was Before The Explosion
Beirut Terminal Is Also A Major Oil Products Hub (% Total)*
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