Beirut, 26 April, 2018 — The 4th Lebanon International Oil and Gas Summit (4th LIOG 2018), which took place at the Hilton Habtoor Grand Hotel Beirut April 24 and 25 concluded successfully with record participation and business activities, insightful discussions, and valuable recommendations.
The LIOG 2018 Summit in its 4th edition was held under the patronage of HE Engineer Cesar Abi-Khalil, Lebanon’s minister of energy and water, who inaugurated the summit, and with the support of major national and international organizations.
The Summit consolidated its position again as the leading oil and gas event in Lebanon, hosting over 550 registered participants from around the world. Participants included top-officials from the public and private sectors, representing over 250 local and international companies and organizations, with foreign participation exceeding 55 percent.
According to the organizers, LIOG 2018 proved to be a real platform not only for exchanging thoughts and networking, but also for holding actual business meetings.
Statistics show that over 160 pre-arranged one-to-one business meetings were organized on the premises through the conference’s business matching service, apart from the regular meetings which occur through normal networking.
Such activities fit the main objectives of the summit to maximize the contribution of this sector to the Lebanon’s economic growth and job creation; and to re-position Lebanon on the world’s oil and gas map, said a statement by the organizers,
Dory Renno, Managing Directorof Planners and Partners S.A.L., one of the two event’s organizing companies, along with the UK-based Global Events Partners, explained that “this is a major driver to boost business activities throughout the oil and gas value chain, and to highlight the potential for economic growth and job creation in Lebanon.”
Nearly 40 speakers discussed different subjects related to almost all the aspects of the petroleum sector in Lebanon and the region within nine insightful sessions.
Strategic Recommendations
With the hope of having positive exploration discoveries in the coming years, the conference recommended to following:
- As per the guidance by HE the minister of energy and water, to start looking for the possibility of launching the second licensing round with the support of the LPA.
- To continue the efforts toward transparency and governance in the sector, particularly with the commitment by Lebanese government to transparency.
- Keeping an eye on the international natural gas markets with different scenarios to ensure that Lebanon secures its appropriate share depending on possible discoveries.
- Awarded operators to work with all stakeholders to determine the necessary structural and logistical trends for the industry, with commitment to Lebanon’s oil and gas master plan ensuring that the country’s resources will be effectively developed from the reservoir to the consumer.
- Encouraging national and international investors to join the petroleum sector and benefit from the wide variety of associated business opportunities, particularly for small and medium-sized businesses.
- Benefiting from a close cooperation with major players around the world who have advanced knowledge and experience in the development of hydrocarbon resources.
- Creating awareness about locally available services in some of the most developed sectors including legal, banking and insurance.
- Supporting the Lebanese government in its efforts in adopting a strict policy to follow high standards in Health, Safety and Environmental (HSE) practices in the Lebanese petroleum sector.
- Resuming support to Lebanese universities and vocational schools in their existing programs to meet the expected crease in demand in the job market on all level; and to equally encourage research on the local job market to ensure adequate manpower development plans.