Lebanon Signs Deals To Receive Electricity From Jordan Via Syria

In a deals expected to bring Lebanon up to 250 megawatts of electricity a day within two months, Lebanon signed agreements on Wednesday to purchase electricity from Jordan via Syria to help the small Mediterranean country deal with its crippling energy crisis.

enough for about two hours of power a day. The electricity will be transmitted through Syria. The World Bank is expected to finance the deals, and negotiations are underway.

Lebanon’s Energy Minister Walid Fayyad said he expects financing negotiations to conclude in two months.

“After signing today, we are left with the financing through the World Bank, something I will work on as soon as possible. The details will be clear in the next two months,” Fayyad told reporters during the signing ceremony. ”We don’t want to promise the Lebanese people that as soon as we sign electricity will come.”

Lebanon’s electricity company offers only a couple of hours of power a day, and residents have heavily relied on costly and polluting private generators. The aging national grid has not been able to provide 24-hour electricity in the country since the end of the civil war in 1990, and fuel oil subsidies for the state electricity company have been the main driver of the country’s massive national debt.

The energy crunch is at the heart of Lebanon’s snowballing economic crisis, described as one of the world’s worst since the 1850s. A massive public deficit and a crashing national currency have made shortages perennial amid continuously soaring prices. US, Europe draw up gas supply plan in case of Russian cutoff amid Ukraine tensions.