Lebanon is about to get back a sliver of normalcy: Minister of Energy and Water Walid Fayyad has been quoted by a report in the official National News Agency (NNA) as saying that gas from Egypt and Jordanian electricity would help the country restore electricity supply to 8-10 hours a day.
The NNA report quoted him as saying that “the headline of the first phase of the electricity plan that he presented to the cabinet is to increase power supply to 8-10 hours by extracting gas from Egypt and electricity from Jordan at the best prices.”
He explained: “Gas is cheaper than fuel oil, though which today’s power plants operate.”
The Lebanese have been suffering a financial crisis that has led to power supply being restricted to a mere couple of hours per day.
The country even witnessed an all-encompassing blackout in October last year as power-generating fuel ran out in the country.
The aforementioned crisis has seen the country’s economy sink to depths where the local currency has lost more than 90 percent of its value, and four out of every five people are living in poverty.
As a result, Lebanon has been looking to neighboring countries for help, several of which have pledged aid — mostly in kind.
One such is fuel from Iran and electricity from Jordan, the latter which was supposed to have arrived in the country by January itself.
However, Fayyad, during an interview with a TV channel on Sunday, said the implementation of the first phase of the plan to restart the slow march to normal power supply in the country would begin in Spring, “as the final copy of contracts on Egyptian gas will be duly signed.”
He added: “Obtaining financing from the International Monetary Fund is linked to obtaining exemptions and making sure that the money provided will not be wasted.”
He also said: “The first phase is practical and technical, and far from political polemic.”
The minister also noted: “A large part of the financing of the electricity plan depends on the private sector.”
He explained that Lebanon today gets three hours of electricity, with Iraqi fuel that costs of $70 million per month.
“We will reach 17 hours of electricity by the year 2023,” he said.
About the second phase of the electricity plan, Fayyad referred to “operating the Deir Ammar and Al-Zahrani plants on gas instead of fuel via the Arab Gas Pipeline.”
He added: “The third phase consists of securing a necessary ground for establishing new power plants and stopping the Zouk plant due to its negative impact on the economy and the environment.”