Lebanon signs gas deal with Egypt and Syria

Syria and Egypt have signed a gas supply agreement with Lebanon to ease the energy crisis and outages in the country.

The gas import agreement was signed by Lebanese Energy Ministry Oil Facilities Director-General Aurore Feghali, Egyptian Natural Gas Holding Company (EGAS) chairman Magdy Galal, and the Syrian’s General Petroleum Corporation director Nabih Khrestin.

As per the deal, Egypt will supply 650 million cubic metres of natural gas per year to Lebanon via Syria.

Syria will receive a small amount of the gas but will not get any cash as part of the agreement.

The Egyptian gas will be gas piped to the Deir Ammar power plant in northern Lebanon, where it could add approximately 450MW to the Lebanese power grid, which is equivalent to an extra four hours of power.

Designed to run on both gas and diesel, the Deir Ammar plant currently uses diesel as the gas pipeline is due to be commissioned, according to Reuters.

The agreement, however, is due to receive approval from the World Bank, which is expected to finance the process.
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