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There is increased interest in oil and gas exploration offshore Lebanon, but the country lags behind Israel and Cyprus in developing its resources. There has been wide domestic criticism of the government's slow progress in developing Lebanon's petroleum resources, as symptomatic of the country's governance failure. However, in light of the state's weaknesses in the areas of control of corruption, rule of law and political stability, an accelerated path to the development of resources would have involved great risks.
Over the last few years, significant new oil and gas exploration reserves have been discovered in East and West Africa, as well as the Eastern Mediterranean, the Caribbean and the Asia- Pacific region. These discoveries have very quickly added several new countries to the ranks of the world's oil- and gas-producing nations. These emerging oil and gas producers have shown a strong interest in advice on governance. They are keen to avoid the mistakes that have led to accountability failures in other, more established, producing countries.
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