Oil and gas in Lebanon: Extract or do not extract?

Abstract

There is a widespread belief in Lebanon that hydrocarbons extraction can bring substantial benefits to the economy and the standard of living of its citizens. Using Computer Assisted Qualitative Data Analysis Software (CAQDAS), NVivo10, six experts' opinions are analyzed to identify some crucial issues related to the conditions of achieving potential gains in the hydrocarbon sector in Lebanon. Among the four main principles of conditions of success, only transparency seems to be at work at the moment. Governance is not elaborated, accountability is far from achievable, and investment strategies are not almost inexistent. Based on the above, it might make sense to conclude that the benefits of oil and gas in Lebanon are not certain under the current situation and the cornerstones for the success of SWF are nonexistent so far. It might be preferable that Lebanon improves those conditions before it extracting its oil and gas. After all, the delay might turn up to be beneficial rather than problematic.