Caretaker Minister Bassil: Lebanon has 15 to 20 trillion cubic feet of gas

Caretaker Minister of Water and Energy Gebran Bassil said on Friday that Lebanon is currently carrying out a three-dimensional water survey of the remaining operational zone between Beirut, Batroun and the Shekka regions, so far surveying 70% of the Lebanese waters.

Minister Bassil's statements came during a maritime tour on board of Polarcus-Adira vessel- affiliated to Spectrum Company- in a bid to have a closer look at the three-dimensional scan carried out by the mentioned vessel.

The survey covered the North, the South, the Center, the depth and the shallow waters, he said.

"We have between 15 and 20 trillion cubic feet of gas, the next 2 weeks will bring forth clearer data."

The caretaker Minister expects that Lebanon will enter the stage of "gas pumping" by 2020.

He also stressed the importance of steering the oil and gas sector clear of all political problems.

"This wealth is for all the Lebanese people and we have an obligation to preserve it," he added.

Interest in drilling in the eastern Mediterranean has grown since two natural gas fields were discovered off Lebanon's shores.

Delegates at an oil and gas conference in Beirut in December said Lebanese waters could contain between 30 trillion and 40 trillion cubic feet of gas.

Energy Minister Gebran Bassil said in September that one southern bloc alone could hold 12 trillion cubic feet and this was enough gas to produce electricity for Lebanon for 99 years.

Lebanon hopes that gas discoveries could help address its government debt and chronic domestic power shortages, but repeated delays mean it is already several years behind in exploring those potential reserves.