ABSTRACT
This chapter elaborates on Lebanon's opportunities, achievements and challenges regarding the exploitation of recent natural resource discoveries. It gives an overview of recent economic developments in Lebanon that are largely influenced by the Syrian war, an evaluation of the Lebanese energy and electricity sector, and an assessment of accomplishments and pitfalls in the development of Lebanon's nascent oil and gas sector. The Lebanese government has been aware of the existence of substantial offshore oil and natural gas reserves since the 1960s, but the long civil war, continuing political disagreement as well as ongoing conflict with Israel have diverted the government's attention and delayed the development of the sector. Furthermore, an analysis of Lebanon's economic and geopolitical challenges in its endeavor to reach higher economic growth through natural resource discoveries is provided. The chapter argues that cooperation between national and regional players would clearly allow for maximizing economic rewards, yet hostilities and greed will likely prevent such a mutually beneficial outcome.
