The head of the Center for Estrostrategic Studies and Research, Abbas Mezher, stated that the use and exploration of gas is not enough to carry out an economic renaissance in Lebanon.
In an interview with Sputnik, Mezher pointed to a number of conditions related to governance that must be met at the level of political and economic practice and reforms, which would ensure the proper investment of oil and gas.
And about what it will offer Gas discovery “Lebanon is witnessing today the start of gas and oil exploration operations in Block 9, and although the determination of the existence of great wealth in the Qana field has not yet been confirmed, the exploration operations are a good indicator of the existence of great wealth, especially after the initial examination through three-dimensional images, and this is also evidence of the existence of an appropriate political environment and a good investment climate that allowed international companies to complete their activities and commitments,” Mezher said.
He added: “Lebanon’s wealth of gas is currently estimated at $ 180 billion, and oil $ 40 billion, or $ 220 billion, but today, after the rise in oil and gas prices, wealth estimates reach between $ 500 to $ 600 billion, so the Lebanese consider that they have found a treasure, and they hope that this will reflect well on their economy and livelihood.”
Source: Sputnik
