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Baghdad / Obelisk: The Lebanese Minister of Energy in the caretaker government, Walid Fayyad, announced on Thursday 07/07/2022 that Iraq had expressed its intention to extend the agreement on fuel for electricity generation.
This came in a press conference following a meeting between Fayyad and the head of the caretaker government, Najib Mikati, at the government headquarters in central Beirut, according to a statement issued by the media office of the Presidency of the Government.
Fayyad pointed out that Iraq supplies Lebanon with 80,000 tons per month, but in this period the quantity is less due to the difference in price.. It decreased to 40 thousand tons, providing two hours of feeding instead of 4 hours.
He pointed out that work is underway to prepare for another visit to Iraq "to crystallize and extend the new formula of the agreement, and to show the Iraqi side that we are committed on our part to pay the dues, albeit in a gradual and phased manner."
Fayyad revealed that Egypt confirmed its readiness to pump gas, but it is waiting for the American green light that there are no sanctions due to the Caesar Act, pending financing from the World Bank.
He said that Egyptian officials "repeated saying that they are ready at the commercial, contractual and technical levels, meaning that the line is ready, the quantities are available, and the contract is also ready."
Since June 2021, Lebanon has been importing about 80,000 tons of fuel from Iraq per month, to generate electricity from power plants, which provides daily electrical supply for about 4 hours, according to a year-long agreement between the two parties.
Fayyad had visited Egypt and Iraq on July 5 and 6, 2021, to discuss supplying Lebanon with energy.
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