The pipeline deal will cut Lebanon’s energy imports by 30 percent
Lebanon,Egypt,Syria and Jordan signed a $1-billion deal to build two pipelines that will carry Egyptian and Syrian gas and that is expected to cut Lebanon’s annual energy-import bill by 30 percent.
Lebanon plans to import 12 million m³of gas per day during the 2002-05 period, of which 9million m³will come from Egypt and the rest from Syria.
Officials said the newly formed Middle East Gas Company would have a paid up capital of $800 million,and build a
400km pipeline under the Mediterranean Sea to Tripoli in Lebanon.
A second firm,The Arab Company for Gas,will build and operate a 400km land pipeline and market Syrian and Egyptian gas,and have a capital of $200 illion.Construction work should start in four months and take four years to complete.
— (Lebanon Invest)
© 2001 Mena Report (www.menareport.com)