Globes: Lebanon's offshore gas estimated at 25 TCF
Lebanon's offshore natural gas potential is estimated at 25 trillion cubic feet (TCF), according to an estimate by an international company. The report covers an area in the southwest corner of Lebanon's exclusive economic zone (EEZ) near Israel and Cyprus's EEZs.
Lebanese daily "The Daily Star" reports that the Lebanese government hired Spectrum Geo Ltd. to conduct a 3D seismic survey off the Lebanese coast. It adds that experts estimate the value of the gas at $40 billion.