Lebanon Signs Deal to Purchase Natural Gas from Egypt

This is Beirut, 17:00 - Reading : 2 minute(s)

Lebanon Nawaf Salam Joseph Aoun USA Natural Gas

Lebanon said Monday it plans to purchase natural gas from Egypt, seeking to reduce its reliance on fuel oil for its ageing power plants in a country hamstrung by regular electricity cuts. The electricity sector has cost Lebanon more than $40 billion since the end of its 1975-1990 civil war, and successive governments have failed to reduce losses, ...