Powerless in a pipe dream

ENAR

The oft-touted promise of great gas wealth under the sea floor off Lebanon’s coast has recently compelled the nation’s eyes toward the western horizon. There is a slowly growing sense of inevitability building around Lebanon’s potential hydrocarbon windfall, which was further accelerated by the appointment of the board for the Petroleum Administration in late 2012.  In the coming year Lebanon intends to open a tender round for the exploration and production agreements that will legally enable International Oil Companies (IOCs) to tap into the ocean floor in search of oil and gas. But this industry is a game of patience, and assuming there are commercially viable finds down there, no chips will likely be cashed for around seven to 10 years. A sober assessment of how the country might benefit from access to this newfound resource requires a refocusing on the foundations that need to be laid. Even while teams