of these two commodities, or even of natural gas. This is expected to reflect positively on the electricity sector, public finances, trade balance and GDP, and the economic outlook of the economy will be completely changed. The oil and gas revenues would decrease imported energy Lebanon’s needs (which stand today at about 90%), thus improving its reducing its public deficits and indebtedness, increasing its currency reserves, enhancing infrastructure investments, and increasing job opportunities. Also, the oil and gas production will enhance the construction activity in the country, as it will launch a large-scale hydrocarbon facilities like ports, pipelines, and compounds for workers. In addition, public-private investments will grow in the years to come, thus stimulating economic growth and lowering unemployment by creating job opportunities for the local Lebanese besides drawing on the expertise of many Lebanese expatriates. The discovered and produced gas can help Lebanon decrease the pollution of fuel-oil powered electricity generation as it moves to a gas-fired power generation. By this, Lebanon could develop its potential in the field of renewable energies whose utilization is globally increasing.
of these two commodities, or even of natural gas. This is expected to reflect positively on the electricity sector, public finances, trade balance and GDP, and the economic outlook of the economy will be completely changed. The oil and gas revenues would decrease Lebanon’s imported energy needs (which stand today at about 90%), thus improving its reducing its public deficits and indebtedness, increasing its reserves, enhancing infrastructure investments, and increasing job opportunities. Also, the oil and gas production will enhance the construction activity in the country, as it will launch a large-scale hydrocarbon facilities like ports, pipelines, and compounds for workers. In addition, public-private investments will grow in the years to come, thus stimulating economic growth and lowering unemployment by creating job opportunities for the local Lebanese besides drawing on the expertise of many Lebanese expatriates. The discovered and produced gas can help Lebanon decrease the pollution of fuel-oil powered electricity generation as it moves to a gas-fired power generation. By this, Lebanon could develop its potential in the field of renewable energies whose utilization is globally increasing. currency
Study%20%2D%20Is%20Lebanon%20Really%20an%20oil%20and%20Gas%20Producing%20Country.docx