November 28, 2021

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Starved of electrical energy, Lebanon picks Dubai’s ENOC to swap Iraqi gasoline

2 min read

Particles is noticed inside of Lebanon’s Electrical power Company (EDL) headquarters, in the aftermath of a significant explosion at the port area, in Beirut, Lebanon, August 17, 2020. REUTERS/Alkis Konstantinidis

BEIRUT, Aug 27 (Reuters) – Lebanon’s energy ministry stated it experienced picked Dubai’s ENOC in a tender to swap 84,000 tonnes of Iraqi substantial sulphur fuel oil with 30,000 tonnes of Quality B gasoline oil and 33,000 tonnes of gasoil.

ENOC gained the tender, portion of a deal amongst the two nations that will allow the dollars-strapped Lebanese government to pay for 1 million tonnes of Iraqi major gas oil a calendar year in merchandise and products and services.

As Lebanon suffers what the Planet Lender has explained as a single of the deepest depressions of modern historical past, shortages of fuel this thirty day period have intended state-run energy has been obtainable for hardly a couple of hrs a day if at all.

Citizens turning to personal generators for their ability supply encounter diesel shortages.

The swap tenders are crucial as Iraqi gas is unsuitable for Lebanese electricity generation.

Lebanese caretaker Power Minister Raymond Ghajar stated in July the gas from the Iraqi deal would be made use of for electrical energy technology by the state supplier and was ample for about 4 months.

ENOC is established to obtain the Iraq gas concerning Sept. 3-5 and will provide it to Lebanon two weeks following, the power ministry claimed.

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Reporting By Maha El Dahan and Laila Bassam editing by Barbara Lewis

Our Specifications: The Thomson Reuters Believe in Ideas.

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