Lebanese areas are expected to experience an improvement in electricity supply starting this evening, gradually reaching four hours of power per day, according to the supply program that was in place before fuel ran out. This comes after the arrival of the maritime tanker ALMI NAVIGATOR, loaded with approximately 28,500 tons of fuel oil, and the issuance of laboratory test results from Dubai confirming that it meets specifications. Consequently, it is expected that its cargo will be discharged at the Zahrani and Deir Ammar plants, with the institution gradually increasing thermal supply to around 520 megawatts, which translates to an average of four hours daily.
The arrival of the maritime tanker, which had been anchored in Iraqi territorial waters since the 10th, was delayed pending the signature of the Central Bank of Lebanon on the amendment of the letter of credit (SBLC) opened in favor of the Iraqi Oil Marketing Company (SOMO), increasing it to 700 million dollars from 656 million dollars, in implementation of the renewed fuel oil agreement between the Iraqi and Lebanese sides for the third year. After addressing the matter, the first shipment of Iraqi fuel (heavy fuel oil) from the agreement, which amounts to one and a half million tons annually or about 125,000 monthly, has arrived.
In addition, Energy Minister Walid Fayad received a "gift," as he described it to Al-Nahar, which is a "draft" of a new trade agreement with Iraq that secures around 14 million barrels of crude oil worth 1.2 billion dollars, with payment facilities for six months from the date of signing without any interest incurred, on the condition that a guarantee from the Central Bank of Lebanon is provided to ensure payment for the shipments if the state cannot pay. The minister is expected to send a copy of the draft agreement to the Legislative Authority for approval, along with a message to the Electricity Authority to ascertain its maximum capacity to provide energy to citizens, and a message to the Central Bank of Lebanon to gather its opinion regarding possible dollar-related documentary credits, while also addressing the Presidency of the Government to seek approval for signing the agreement.
