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ENAR

This article is part of Executive’s special report on the oil and gas sector. Read more stories as they’re published here, or pick up October’s issue at newsstands in Lebanon.   When Lebanon moves forward toward extracting its potential oil and gas resources in the country’s coastal waters, it will do so with the intention of powering industrial manufacturing and investing in infrastructure for small and medium sized enterprises (SME) integrating them with operating oil companies, creating an industry of support and ancillary service companies. The Lebanese Petroleum Administration (LPA) has repeatedly indicated this intention in its vision for Lebanon’s oil and gas sector, saying the crown jewel is not the lucrative extraction of resources, but rather encouraging manufacturing, industrial localization and SME integration. Difficulty to localize Though revenue from the sale of potential petroleum resources could be significant, the lasting value might come in powering industrial manufacturing and encouraging the integration