Syria exported 2,000 tons of liquefied natural gas (LNG) from its Banias Port to Lebanon last week and is preparing to export an additional shipment of 3,000 tons in the near future. The transfer follows a gas agreement signed between the two nations last December, confirmed the Lebanese Minister of Hydraulic and Electrical Resources.
The deal called for the construction of a 45-kilometer pipeline to transport Syrian gas to the Baddawi power plant in northern Lebanon. The shift from oil to LNG will reduce the cost per kilowatt from $.07 to approximately $.032, successively slashing the Republic’s electricity production cost by half.
Once the project is in full force, Lebanon will receive 1.5 million cubic meters of gas per day with a gradual increase to 3.5 million cubic meters and then to six million cubic meters. — (menareport.com)
© 2002 Mena Report (www.menareport.com )