Exploring the Potential of Natural Gas in Lebanon’s Energy Market.

by energyportal.eu — Lebanon, a small Mediterranean country, has been facing an energy crisis for years. The country’s energy infrastructure is outdated, and its electricity sector is struggling to meet the growing demand. Frequent power outages and an overreliance on expensive and polluting diesel generators have become the norm for many Lebanese households and businesses. However, recent discoveries of natural gas reserves in the Eastern Mediterranean could offer a solution to Lebanon’s energy woes. In 2017, Lebanon’s government approved the country’s first offshore oil and gas exploration licenses, opening up the potential for tapping into the vast natural gas reserves in the Levant Basin. According to the United States Geological Survey, the Levant Basin, which stretches from the coasts of Israel, Lebanon, and Cyprus, holds an estimated 122 trillion cubic feet of natural gas. This presents a significant opportunity for Lebanon to diversify its energy mix and reduce its dependence on costly and polluting fossil fuels.

The development of Lebanon’s natural gas sector could have numerous benefits for the country’s economy and environment. Firstly, natural gas is a cleaner and more efficient source of energy compared to oil and coal. By transitioning to natural gas, Lebanon could significantly reduce its greenhouse gas emissions and improve air quality, which has been a growing concern in recent years. Additionally, natural gas is a more cost-effective energy source, which could help lower electricity prices for consumers and reduce the financial burden on the government. Furthermore, the development of Lebanon’s natural gas industry could create much-needed jobs and stimulate economic growth. The energy sector has been identified as a key driver of economic development in Lebanon, and the exploitation of natural gas reserves could attract foreign investment and boost the country’s GDP. In a country with high unemployment rates and a struggling economy, the potential for job creation and economic growth cannot be understated.

DUBAI, (Reuters) – The United Arab Emirates in the coming days will lift a temporary restriction on issuing visas to Lebanese nationals due to security concerns, a UAE official told Reuters on Thursday. “Temporary restrictions are in place in response to security concerns. Temporary restrictions continuously undergo review and are subject to be lifted for […]

The 12th session to elect a new President of the Republic did not lead to ending the presidential vacancy, as was expected, given the withdrawal of supporters of the “Marada Movement” leader, Suleiman Franjieh, from the hall. The “Lebanese Forces” accused the withdrawal of obstructing the presidential elections, in exchange for calls for dialogue issued by Franjieh and Parliament Speaker Nabih Berri. With the exception of Franjieh obtaining 51 votes, in contrast to the former minister Jihad Azour’s obtaining 59 votes, no significant surprises emerged, given that the political forces supporting Azour poured their votes into the fund in his favour, as the commitment of the “Lebanese Forces” and the “Free Patriotic Movement” emerged. And the “Progressive Socialist Party” and the “Lebanese Kataeb Party” and some independents and changeists took the position, while Franjieh’s supporters committed to voting for him, led by “Hezbollah” and “Amal Movement” and their allies, in exchange for canceled papers and other votes proving that they have not decided Their choice is still in favor of one of the two weighted candidates.

A candidate in the first round needs a two-thirds majority, or 86 votes, to win. The required majority, if a second round takes place, becomes 65 votes. But the quorum requires the presence of two-thirds in the two sessions. The first session of the session, which was inaugurated by Parliament Speaker Nabih Berri, was attended by all 128 members of parliament, but it did not result in electing a president, with the main candidates, Franjieh, who is supported by Hezbollah, and Azour, who is supported by significant blocs opposed to the party, with a close number of votes. Azour got 59 votes in the first round, while Franjieh got 51 votes. And as soon as the votes began to be counted, a number of deputies withdrew, led by representatives of “Hezbollah” and “Amal Movement”, which led to the overthrow of the quorum for the second session, in a repetition of the previous scenario, which overthrew 11 sessions over a period of 7 months.

by english.alarabiya.net — The US on Wednesday called on Lebanon’s leaders and “elites” to stop putting their own interests and ambitions above the people of their country after the Lebanese parliament failed to elect a new president for the 12th time since last year. After a first session, which saw IMF official Jihad Azour garner […]

by Jerry Maher — arabnews.com — It is no secret that Hezbollah and its followers are restless about all that is happening in Lebanon on the economic, financial and social levels as a result of the suffocating crisis the country is going through. Hezbollah’s immediate suffering is one of the consequences of the war in Syria and its involvement there, which has led to the martyrdom of a large number of young people. However, amid signs of the end of the war in Syria and Damascus’ return to the Arab fold via the Arab League, it has become clear to the families of the fighters that the blood of their sons was spilled in vain, with no gains resulting from the party’s participation in the conflict in Syria on the basis of the “strategic aims of the resistance.” Therefore, resentment among the many Shiites who make up the party’s base increases on a daily basis, amid the stifling economic crisis and unstable living conditions the country is facing.

After all, they live with other Lebanese people and they share the same suffering. It appeared clearly and publicly with the launch of the popular movement of the Oct. 17 Revolution in 2019, when areas in Southern Lebanon and the Bekaa Valley witnessed popular movements under the slogan “All means all.” They accused the political class, including Hezbollah, of bringing the country to a state of economic deterioration and financial crisis — the worst since the civil war ended. Anger and resentment against the party’s policies are now being expressed publicly, no longer behind walls or in restricted meetings. As a result of the insane increase in the price of essential consumer goods and fuel, as well as the decline in purchasing power as a result of the Lebanese pound’s deteriorating value against the US dollar, people can no longer tolerate staying silent and have started to publicly express their views. In the end, a hungry man is an angry man, and all barriers fall before starvation. The impact of Hezbollah’s policies was evident in last year’s parliamentary elections, as turnout declined significantly in some of its strongholds. It is worth noting that the party and its allies directly employed tactics of intimidation and fear toward voters. Such practices were intense and widespread.

khazen.org emphasizes the significance of elections, acknowledging that there may not be a flawless candidate. Similar to other countries that elect presidents, the race typically narrows down to two candidates, as seen in the USA and France. Despite personal disagreements with the candidates, it is crucial to make a choice between them. The absence of […]

by arabnews.com — Najla houssari –– BEIRUT: Officials at an historic Lebanese golf club have launched a drive to keep it up and running amid the country’s economic meltdown. Karim Salam, president of the Golf Club of Lebanon in south Beirut — known for its elite client base — told Arab News that innovative ways to attract a new generation of members were being pursued. After three years of struggling to survive the financial crises gripping the nation, club bosses want to tee it up for the future. “We are trying to change the club’s policies from targeting elite clients to attract members of the public who are able to pay a reasonable fee to benefit from our services,” Salam said. As part of the initiative, the club, that has played host to major international tournaments, has been running free courses to introduce the game to children aged between six and 12 from public and private schools. “We were the first Arab country to organize such courses in 2016. We are now providing reasonable and encouraging fees to attract a new generation to the club,” he added.

With basketball, tennis, and swimming far more popular in the country, Salam noted that the Lebanese Golf Federation was keen to further promote the game. The club was also encouraging people with disabilities to take up the sport. Salam said: “Our coaches carry the equipment, needed to teach the children, to schools and spend hours teaching them. We decided to transport children with disabilities who want to learn golf in specially equipped buses to the club. “I did not imagine that such a step would make children with disabilities so happy. They take the training very seriously and are good at the game. They also consider that what we offer them is an opportunity not available elsewhere. “The determined approach of the children to the game makes us confident that we will be able to represent Lebanon in the Paralympics,” he added. Set up in 1923, the club occupies one of the last green spaces in Beirut — along with the campus of the American University of Beirut — overlooking the Mediterranean Sea. The 18-hole course covers around 420,000 square meters and meets international specifications, and the site includes 18 hotels, a pool, seven tennis courts, and areas for teaching taekwondo, football, squash, chess, and other activities. Salam described the club as “a national edifice of social, environmental, economic, tourism, and sports importance.”

By Melissa Cantor, Editor at LinkedIn News –– It appears some helicopter parents never taught their kids how to fly. According to The Wall Street Journal, parents are increasingly present in the workplace — filling out applications on behalf of their now-adult children, asking to sit in on job interviews, and even dropping into offices […]

by thecradle.co — Recently nominated Lebanese presidential candidate Jihad Azour will take a leave of absence from his post at the International Monetary Fund (IMF) to avoid any perceived conflict of interest, The National reported on 9 June. Azour is the director of the Middle East and Central Asia office at the IMF and was nominated for the position of Lebanese president, which has been vacant since October, when Michel Aoun’s term expired. The IMF said Azour, who served as finance minister of Lebanon between 2005 and 2008, was to take leave “to avoid any perception of conflict of interest.” In April of 2022, Lebanon and the IMF reached a staff-level agreement on an economic reform plan to unlock around $3bn of funding over several years. However, the agreed reforms have yet to be implemented.

The IMF alleges the reforms are needed to end Lebanon’s economic crisis, which began in 2019 when a decades-long Ponzi scheme involving the country’s central bank and commercial banks collapsed, causing the Lebanese lira to lose some 98 percent of its value and plunging much of the country into poverty. The crisis caused many Lebanese residents to lose their entire life savings and to suffer from widespread shortages of state-supplied electricity, clean water, and medicine. Scenes of women and children asking for money in the streets of downtown Beirut have become ubiquitous. Efforts to solve the country’s energy crisis by importing gas from Egypt via Syria have stalled as US officials refuse to give assurances that relevant US sanctions on Syria will be waived. However, while reform of the Lebanese banking sector is needed, some observers have questioned the merit of the proposed IMF reforms.

By ILIAS TSAGAS — By the end of 2020, Lebanon fell short of its national target of 100 MW for solar capacity, reaching a cumulative total of 89.84 MW. This shortfall reflected the bleak state of the solar sector, mirroring the overall economic downturn. Lebanon’s ongoing political and economic deadlock persists, marked by soaring inflation, […]