Gormley said the oil and gas sector carries “a high risk of corruption.” (The Daily Star/Mohammad Azakir)
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How can Lebanon improve its transparency for its potential oil and gas sector? As the country continues to lay the groundwork for possible offshore energy exploration, experts offer recommendations for good governance in this potentially new industry for Lebanon.At a conference at Beirut's Phoenicia Hotel Friday morning titled "Transparency and Accountability in Lebanon's Petroleum Legislation," legal energy specialists from Lebanon and Norway, funded by the Dutch government, laid out the myriad legal challenges for exploring oil and gas off the coast of Lebanon, and suggested ways for the country to organize itself as it moves closer to tapping into its prospective offshore oil and gas reserves.The regulation of Lebanon's oil and gas sector is set by the Cabinet, the Energy and Water Ministry, and the Lebanese Petroleum Administration.In 2012, the Lebanese government established the LPA, a regulatory body to supervise the country's oil and gas sector.
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