Fayad: Lebanon to sign gas deal with Egypt soon

Fayad: Lebanon to sign gas deal with Egypt soon

Lebanese Energy Minister Walid Fayad stated that the Lebanese Cabinet has authorized the ministry to sign final contracts for supplying natural gas from Egypt to Lebanon and Syria through the Arab Gas Pipelines, according to a statement issued by the Lebanese cabinet.

Fayad added that his ministry will coordinate with the Egyptian Petroleum and Mineral Resources Ministry to successfully complete this phase next week. After that, the next negotiation round will be with the World Bank (WB) for financing issues as well as the American administration to ensure there are not any negative implications for such contracts.

The minister also thanked the Egyptian government for its support for Lebanon and its approval to supply his country with the maximum needed volume of natural gas.




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