Lebanon to lure oil & gas investments in May event

Lebanon to lure oil & gas investments in May event
Held under the theme 'Lebanon – Moving Forward', LIOG 2017 will cover key areas with over 30 Lebanese, regional and international expert speakers.
Published: 16 March 2017 - 4:52 a.m.
By: Indrajit Sen

The Lebanese Ministry of Energy and Water, in collaboration with the Lebanese Petroleum Administration (LPA), is beckoning key oil and gas industry executives and experts from across the eastern Mediterranean region in capital Beirut this May, to showcase the opportunities presented by the Levantine country’s under-explored oil and gas sector.

The potential challenges and the road ahead for companies investing in Lebanon’s oil and gas industry will also be deliberated upon during the third edition of the Lebanon International Oil & Gas (LIOG) Summit on the 9th and 10th of May, at the Hilton Beirut Habtoor Grand Hotel.

The summit will highlight the recent progress by Lebanon’s new government to advance its considerable oil and gas potential. The Lebanese government has recently implemented legislative frameworks to regulate and operate the energy industry.

Launched in 2012 to support Lebanon’s initial findings and to explore the potential of the country’s hydrocarbon resources, LIOG 2017 will attempt to build on the foundation laid by its previous editions.

The LIOG 2017 Summit is being organised by the UK-based Global Events Partners Ltd (GEP) and Lebanese partner, Planners and Partners sal. Global Event Partners Ltd is affiliated to the dmg::events network.

Held under the theme ‘Lebanon – Moving Forward’, the event will cover key areas with over 30 Lebanese, regional and international expert speakers who will share their insight on the following:

• Lebanon’s position as a key hydrocarbons player in the Mediterranean, highlighting recent achievements, showing the new potential of the country and providing delegates with an overview of the legal, financial and technical frameworks.

• Current and expected market conditions and regional geopolitics, along with their impact on Lebanon. In-depth discussions will cover issues like providing return on investment even with low hydrocarbon prices and drawing on international experiences, particularly in terms of turning such challenges into opportunities for all stakeholders.

• The many benefits that Lebanon has to offer and how has the country restated itself as an attractive destination for oil and gas investments.

In addition to the pre-qualified companies for Lebanon’s first licensing round, participants will include a wide range of service providers including drilling and well servicing contractors; engineering, procurement and construction (EPC) contractors; banks and insurers; specialised law firms; HSE consultants and suppliers, and more.

In promoting the event, Paul Gilbert, managing director of Global Events Partners Ltd, has been quoted in a press release as saying: “Following the recent approval by Lebanon’s council of ministers of the two crucial decrees and the official launch of the sector, everything is now in place for the Lebanese government to go ahead with the long-awaited first licensing round. We strongly believe that LIOG 2017 Summit has a pivotal role in this exercise, particularly in terms of promoting the country’s potentials and drawing investors.”

Lebanon, which is believed to have sizable hydrocarbon resources, has recently announced that five offshore blocks will be on offer in its first licensing round which is expected to take place during 2017.

Over 46 international companies were pre-qualified in 2013, and a new pre-qualification round is expected to take place later this month.

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