Lebanon’s Electricity Sector Claims There Isn’t Enough Money To Buy More Fuel

Middle East Monitor

According to LBC, the most viable solution to the ongoing fuel crisis is to simply buy more fuel for factories in order to recover some more hours of electricity.

However, the means to finance such an operation are not available as the sector claims that there isn’t enough money to buy more fuel. Hence, Lebanon remains reliant on its sole fuel provider, Iraq.

The fuel arrangement with Iraq will end in September so Lebanon is trying to find a solution to maintain the steady stream of fuel. Lebanon could either extend the agreement with Iraq or find an alternate source of fuel.

However, renewing the agreement with Iraq seems unlikely because, from the 450 million dollars owed to Iraq for the fuel, Lebanon has yet to pay a single cent.

The solution to the dire problem will be a difficult one to find since Lebanon is reportedly struggling financially.

If the ruling body doesn’t manage to secure a stable source of fuel before the agreement with Iraq ends, Lebanon would inevitably experience darker times than the current one with the scarce supply of electricity.