And in a squat glass building on the University of Houston campus, a
measure of the industry’s pre-eminence can also be found in the person
of Craig Pirrong, a professor of finance, who sits at the nexus of commerce and academia.
Justifiably, the major gas discoveries in east Mediterranean
have spurred enthusiasm across the poor energy countries of the region. According
to the US Geological
Survey’s (USGS) the 122
Tcf estimated total gas reserves of the Levant Basin Province and the total gas reserves of 345 Tcf in East Mediterranean suffice to satisfy the region’s energy demand
almost indefinitely. In the meantime, Lebanon understands that if it wants to
achieve energy security or prevent others from drilling from disputed areas it needs
to catch up with findings and drilling.