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Lebanon will sign gas leasing contract with Egypt

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Lebanon will sign gas leasing contract with Egypt

Beirut, Jun 20 (Prensa Latina) Lebanon and Egypt will sign a contract for gas leasing with financing from the World Bank, Al Joumhouria local newspaper reported.
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According to the newspaper, Lebanon´s acting Minister of Energy and Water, Walid Fayyad, wil exchange views tomorrow with his Egyptian and Syrian counterparts to materialize the cooperation treaty.

Fayyad revealed to the newspaper that the agreement will allow 700 million cubic meters of gas to be imported annually from Egypt through Syria, whose share will be 8%.

In this way, the Lebanese Minister affirmed that the import will allow the production of 400 megawatts, which is equivalent to four hours of electric power per day compared to two at present.

Gas from Egypt, along with a separate agreement to bring electricity from Jordan, are at the center of the government’s plan to reform the energy sector, with increased supplies and prices, in an attempt to close the state-owned company’s deficit.

According to the United Nations, the energy crisis threatens access to basic water and health services across the country, endangering the lives of thousands of families in Lebanon.

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