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New Government, New prospects for Lebanon’s Petroleum Industry

February 19, 2019
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New Government, New prospects for Lebanon’s Petroleum Industry

With the formation of its new government, Lebanon is expected to boost its oil and gas activities and benefit from major opportunities in 2019. The “5th Lebanon International Oil and Gas Summit” (5th LIOG-2019) will be at the center of a growing interest from local, regional and international investors and decision makers from both the private and public sectors.   

 

The newly formed government will put special emphasis on the resumption of efforts and implementation of plans in developing the country’s oil and gas resources. The newly appointed minister of energy and water, HE Mrs. Nada Boustani, one of four female ministers in the new cabinet, will lead this process with a long and informed career within the ministry.

 

A growing interest

The 5th LIOG-2019 Summit which will be held from 2 to 4 April, 2019 at the prestigious Hilton Beirut Habtoor Grand Hotel under the patronage of the Lebanese Ministry of Energy and Water will again be the platform for hundreds of oil and gas companies and investors from Lebanon and around the world along with a growing number of supporting organizations from both the public and private sector

 

“We are witnessing a huge interest in Lebanon’s hydrocarbon resources from local international companies and organizations, particularly after the formation of the new government,” said Paul Gilbert, Managing Director of one of the two organizing companies, UK Based Global Events Partners Ltd (GEP), a part of dmg::events.

 

A large number of interested companies are sponsoring the event which will provide endless opportunities to develop their business in this lucrative market.

 

United Petroleum Company s.a.l. (UP) for example has recently joined LIOG-2019 as a Strategic Partner of the event.  UP is sponsoring LIOG Summit for the second consecutive year with a higher level of sponsorship in 2019.

 

According to Mrs. Jocelyne Joseph Tayeh, Chairperson and General Manager of UP, “this increased interest is due to the success of the company’s participation in the event during LIOG’s last edition in 2018.”

 

In addition to commercial supporters, a number of local and international organizations and associations are supporting the summit including the Beirut Section of the Society of Petroleum Engineers (SPE) – an international organization working for the interest of petroleum engineers around the world, along with the world energy council.

 

Other supporters include the association of Lebanese American Petroleum Professionals (LAPP), an association for US energy experts from Lebanese descent, the Italian Trade Agency, Lebanon’s Association of Insurance companies (Association des Compagnies des Assurance Au Liban – ACAL), and the Chartered Institute of Arbitrators (CIArb) – Lebanon Branch.

 

Insights and opportunities

“This growing industry interest stems from the fact that the summit will coincide with major developments in the Lebanese oil and gas sector, as well as from the success of the LIOG-Summit in becoming the most important petroleum business event in Lebanon and one of the most successful in the East Mediterranean,” said Dory Renno, Managing Director of the co-organizing company, Planners and Partners S.A.L.,

 

This year’s developments in the sector include the start of exploration drilling in the two offshore blocks which were licensed in 2018 to a consortium of three international oil majors – French company Total, Italy’s Eni and Novatek of Russia.

 

This year will also mark the launch of the second licensing round offshore Lebanon, and the introduction of Liquefied Natural Gas (LNG) for the first time to the Lebanese market through FSRUs.

 

A rich an distinct programme

A long list of high-level speakers are continuously confirming their participation in the conference, including well known oil and gas experts from around the world, and high-level officials from both the private and public sectors.

 

For the first time in its history, the summit, which is being organized around the slogan: ‘A full stream of insights and opportunities’, is adding one full day for discussions on technological issues including some important topics like digitalization in the oil and gas sector, and geological and technical advances in the sector and their impact on the Lebanese oil and gas industry.

 

Renno explained that “the technical day will be open to participants, especially those with technical backgrounds to support the ongoing efforts to educate and develop a Lebanese workforce to work in this promising industry and benefit from it.”

 

The technical day will be added to two full days of insightful discussions within the summit strategic conference which covers the latest developments throughout the value chain of the sector. Those topics will be divided into eight enriching sessions.

 

An upstream session will update participants on the latest developments in the progress of the sector, while three other sessions will be dedicated to dealing with different scenarios in both the midstream and downstream. They will provide an enriching perspective to decision makers on the challenges and opportunities in those sectors.

 

Other sessions will provide an update on local, regional and international oil and gas markets, the supply chain, the Health Safety Security and Environment related issues and opportunities.

 

The summit programme also puts an emphasis on transparency and governance in the Lebanese oil and gas sector, and the commitment of the Lebanese government to such issues, particularly in the light of the newly introduced laws and regulations.

 

The conference hall will have an adjacent networking area with dedicated spaces for sponsors and supporters and a special area for B-to-B meetings which can be prearranged online for all visitors, sponsors and participants.

 

The 5th LIOG-2019 Summit is organized by the British-based company, Global Events Partners Ltd., and Lebanon’s Planners and Partners S.A.L.

 

Global Event Partners Ltd. is affiliated to the dmg::events network, a leading organizer of world-renowned oil and gas events including Gastech, and ADIPEC; and is a subsidiary of the Daily Mail and General Trust plc, one of the largest media companies in the UK.

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