Alternative dispute resolution in oil and gas sector. Which legal approach is deemed best when settling the Lebanese – Israeli conflict over Block 8?

Abstract

The problem of oil exploration must be solved as soon as possible. Recourse to international tribunals has advantages and drawbacks; being a substitute for war is the most crucial advantage. While Arbitration is better than ordinary courts, it is quick and less costly, but the problem is in the execution of the decision that will be in the interest of a party at the expense of the other, and an expected dilemma of enforcement will rise. Negotiation is a better solution than legal and judicial procedures, faster and less costly than them, and there will be neither a winner nor a loser, it will depend on the goodwill of the parties. But the problem is that there the lack of trust between the parties to respect the decisions, so the likelihood of its failure is more significant than its success. The best method to solve this issue is mediation. Nevertheless, it is not 100% guaranteed, definitely there will be a low percentage risk of failure, the presence of a third-party, a neutral independent and impartial physical or legal personality, to lead the discussions, to supervise sides behavior, and the proper. application of the decisions and the agreements, makes the probability of its success higher way more than its failure.