Lebanon’s English-language newspaper Daily Star published extensive statements to this effect by a government spokesperson and the former Minister of Energy for Lebanon.

The energy potential in gas deposits in the Lebanon seabed is similar to that found in Cyprus, Egypt and Israel. The Lebanese have moved ahead with extensive 3-D seismographic research, resulting in a good image of their EEZ’s data. However, the precise estimated quantities of natural gas in Lebanon’s deposits are top secret information.

These data are sold to international companies interested in research in Lebanon. There have been previous official reports of 95 trillion cubic feet of natural gas in the deposits.

The Daily Star’s sources emphasised the choices for potential exploitation of the natural gas. The most likely and economically beneficial choice is exporting the gas with a pipeline to Turkey, given that Lebanon has relatively low energy demands.

Even if Lebanon used only natural gas to serve its energy needs, it would need 0.2 trillion cubic feet per year. So one deposit that is 6 trillion cubic feet large could serve the country’s energy needs for 25 years.

The intended market for any gas discoveries in Lebanon is Europe through Turkey, say the Daily Star’s sources.  A pipeline over land, connecting Lebanon and Turkey through Syria is seen as the most economically beneficial solution, compared to costly underwater pipelines, or other solutions.

In fact, this solution, argues the Daily Star, will be much more cost-efficient than a pipeline from Israel to Turkey that is being currently discussed.  The problem with any pipeline over land, however, is the lack of stability in Syria.

Even the use of underwater pipelines, however, will be more cost-efficient than the same method from Israel, says the paper.

The solution of an LNG terminal is deemed to be expensive for the European markets, since it will increase the cost of the natural gas, making it viable only for exports to Asian markets.

Source: InCyprus