The Minister of Energy and Water in the caretaker government, Walid Fayad, met with Egyptian Oil Minister Tarek El Molla on the sidelines of the "ADIPIC" conference in the UAE, followed by a tripartite meeting that included Jordanian Minister of Energy Saleh Al-Kharabsheh and Samer Salim, a board member of Lebanon's Electricité du Liban and energy expert. Discussions centered on shared energy issues among Egypt, Jordan, and Lebanon. Special attention was given to importing gas from Egypt and electricity from Jordan, with agreements ready for implementation as all contracts are signed. However, the delay is attributed to securing necessary funding and the sanctions imposed on Syria, which could affect the agreements due to the Caesar Act.
In this context, an agreement was reached to propose alternative solutions to facilitate implementation, such as direct financing from Electricité du Liban, which could fund electricity from Jordan and gas from Egypt through its accounts at the Bank of Lebanon, especially after finding a suitable solution to secure hard currency. It was also agreed to continue pursuing this matter and prepare for it, noting that financing through the World Bank is also welcome if applicable. The topic will be revisited next month at the oil and gas conference scheduled for November 24 in Beirut to achieve the desired solution.
Additionally, Minister Fayad met with several ministers and heads of companies involved in the energy sector to open lines of cooperation. He also discussed the progress in Block 9 with Claudio Descalzi, the CEO of Italian company Eni, and addressed the offer for exploration in Blocks 8 and 10 presented yesterday. He met with the head and senior executives of ADNOC to consult on ways to cooperate, particularly regarding ADNOC's participation in offers to swap Iraqi fuel to enhance competition and improve value and quantity for Lebanon.
