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Natural Gas Reserves Offshore Lebanon Total 12 Trillion Cubic Feet
Sep. 24, 2012 12:43PM PST
Oil and Gas InvestingReuters reported that seismic surveys of the water off the southern coast of Lebanon indicate that the area contains 12 trillion cubic feet of natural gas. The country’s government appears confident that exploration plans will move forward smoothly, but noted that the fact that the reserves are underwater will make extraction difficult.
Reuters reported that seismic surveys of the water off the southern coast of Lebanon indicate that the area contains 12 trillion cubic feet of natural gas. The country’s government appears confident that exploration plans will move forward smoothly, but noted that the fact that the reserves are underwater will make extraction difficult.
As quoted in the market news:
“Preliminary estimates are 12 trillion cubic feet … in an area of 3,000 square kilometres,” [Energy and Water Minister Gebran] Bassil told reporters. “That’s enough (gas) to make electricity for Lebanon for 99 years.”
The minister, speaking on board a vessel off the Lebanese coast, told reporters that none of the southern sector being surveyed by Spectrum Geo Ltd fell within the 850-square-km area which is disputed between Lebanon and Israel.