Lebanon, Egypt sign deal to meet Beirut’s natural gas needs

Lebanon and Egypt signed a memorandum of understanding on Monday aimed at meeting Lebanon’s natural gas needs for electricity generation, as Beirut seeks to gradually shift its energy sector away from fuel oil, Anadolu reports. Lebanese Energy Minister Joe Saddy signed on behalf of Beirut, while Egypt was represented by Petroleum and Mineral Resources Minister Karim Badawi, alongside officials from both countries, the state news agency NNA reported. Saddy stressed that Lebanon is seeking to diversify its sources of natural gas, noting parallel efforts with Gulf countries and the International Finance Corp. to establish new gas-powered facilities and infrastructure. Under the MOU, he said, Lebanon would be able to import natural gas from Egypt when it becomes available. “All contractual and […]