Middle East & Africa Economic overview
February 2018
Tensions between Israel and Lebanon will remain an obstacle to upstream oil and gas investment in both countries.
The two countries are at loggerheads as a result of Israel’s plan to build a wall along its border with Lebanon and because of Beirut’s recent offshore oil and gas auction. Lebanon claims part of Israel’s wall will be in Lebanese territory, but Israel denies this. Lebanon’s Higher Defence Council gave instructions in February to prevent Israel from building the wall.
Meanwhile, Israel has condemned Lebanon’s first offshore oil...