Lebanon on Tuesday signed an agreement with Egypt and Syria to import 720 million cubic meters of Egyptian natural gas annually through Syrian territory, in an attempt to ease a power crisis in the country.
Speaking during a ceremony held in the capital Beirut, Lebanese Energy Minister Walid Fayyad said under the agreement, Egyptian gas will be purchased and transported via the Arab Gas Pipeline to Lebanon’s power plant.
The agreement will take effect for the next ten years.
According to the Lebanese minister, the US has promised the Lebanese government to secure written guarantees to exempt Egypt from the Caesar Act - which imposes sanctions on any party cooperating with the Syrian regime.
In June 2020, the administration of former US President Donald Trump adopted the Caesar Act, which authorizes sweeping sanctions on the Bashar al-Assad's regime.
The World Bank recently approved a $150 million loan for cash-strapped Lebanon to purchase natural gas from Egypt amid an ongoing economic crisis since 2019.
Egyptian gas imports will help Lebanon reduce power shortages.
*Writing by Mahmoud BarakatAnadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.