According to Fayad, the final deal of this agreement will be signed on Tuesday, June 21st, with the presence of the general managers of the Egyptian and Syrian energy ministries.
Fayad added that with the final deal signed, Lebanon will have to wait for the IMF to fund the program and for the United States to remove any obstacles left.
He also revealed that 700 million cubic feet of natural gas will be imported from Egypt annually, with Syria getting 8% which amounts to 50 million cubic feet. This will give Lebanon the capability to produce 400 megawatts, which is equivalent to 4 hours of power per day.
Despite Fayad’s promises, many people will still resort to private generators and solar energy for a better power supply. Few, however, can still afford this luxury as fuel prices in Lebanon keep rising due to external and internal factors.