Lebanon’s banking sector is always on the prowl, searching high and low for new ways to expand and diversify its portfolio. From driving expansion into foreign markets to expanding its customer base at home, some local banks have already started to look for ways to expand in a whole new sector: financing to exploit Lebanon’s expected oil and gas resources. Room for everyone With another delay in the first licensing round expected, Lebanon’s oil and gas sector still has a somewhat uncertain future. Exploration is still waiting for the Cabinet to pass two decrees, one of which would allow the prequalified international oil companies (IOCs) to finally bid on exploration and production sharing contracts. The development of Lebanon’s oil and gas sector could create many opportunities for various players in the economy, among them banks who would quickly jump at the chance to lend or raise money for new projects
