Oil and gas in Lebanon: Let there be light

The Economist

LEBANON is struggling to keep the lights on. Daily three-hour blackouts already afflict those who can’t afford their own generator. Electricité du Liban, the state power company, says lack of funds from the ministry of finance means it can’t pay for recent shipments of fuel oil to fire its power stations. More gloom is on the way.

This will all end soon, believes Lebanon’s energy ministry. Buried offshore in the country’s section of the Mediterranean are 96 trillion cubic feet of natural gas and 850m barrels of oil: enough to end power shortages, wipe out Lebanon’s rapidly rising public debt and revive its economy.

Source: The Economist FULL STORY