Three interconnected developments that occurred in December 2017 will have a lasting impact on Lebanon. The Lebanese government made two long overdue decisions: launching the energy exploration process and setting the parliamentary elections date for next May. The third development is a breakthrough that has regional implications: a United Nations-sponsored meeting was held between Lebanon and Israel to discuss for the first time the demarcation of their maritime border, an official Lebanese source told Al-Monitor.
After years of tensions and delay, the Lebanese government had agreed in January 2017 on a formula to divide the offshore oil and gas blocks along the Lebanese coast on a political, geographical and sectarian basis. The winning bidder of the first licensing round was a consortium of France’s Total, Italy’s ENI and Russia’s Novatek. Their bid was confined to two blocks only, including block 9 in south Lebanon near Israel’s Exclusive Economic Zone. Official sources in Lebanon told Al-Monitor that the exploration and production agreement between the Lebanese government and the consortium will be signed at the end of January, whereas exploration is expected to begin in mid-2019 and production in 2021-22.
