Cabinet approves energy MOU


The Lebanese Cabinet has approved a proposed Memorandum of Understanding (MOU) with Iran, presented by Minister of Energy and Water Gibran Bassil, to secure Lebanon’s energy supplies.

The MOU, with a value of around $450 million will see Iran sell electricity to Lebanon at reduced prices. This should help to alleviate the shortfall in energy production; currently demand is 2,400 megawatts a day whilst supply stands at 1,500 MW.

The MOU also allows for further cooperation in the building of new power plants.

Tagged with:

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com