Energy Minister Walid Fayad tells LBCI: Lebanon to receive 12 hours...

3^min

Energy Minister in Lebanon's caretaker government, Walid Fayad, confirmed that starting in March, electricity will be provided to Lebanese citizens for up to 12 hours a day, an increase from the current supply of 9 to 10 hours daily.

In an interview on LBCI's "Nharkom Said" TV show, Fayad explained that the boost in supply is contingent on securing additional fuel. He noted that Electricité du Liban (EDL) has not received adequate support to ensure this increase.

He also revealed that EDL currently holds between $500 million and $600 million in unpaid bills from Lebanese consumers.

Fayad reassured that the electricity situation is improving, but high fuel costs continue to drive up the price of electricity.

Regarding Lebanon's oil and gas exploration, Fayad discussed TotalEnergies' involvement, explaining that the French company’s decisions are influenced by French political policy.

He added that French President Emmanuel Macron has the ability to apply pressure on TotalEnergies or coordinate with the company.

Fayad also pointed out that billions of dollars in investments from the U.S. are flowing into Israel, allowing it to continue with exploration projects, while Cyprus has struggled to produce gas, despite starting exploration before Lebanon.

"We’ve tried to highlight that, while major companies are known for their capabilities, smaller specialized firms today offer high efficiency at lower costs. If we want to boost exploration capacity, we need to prioritize these specialized, smaller companies. We have proposed reducing the capital requirements for these exploration companies," Fayad stated.

He further explained that TotalEnergies requires a guarantee bond for Block 4, and its executive leadership has not revealed whether they will provide the report for Block 9, which they are requesting, adding that he has sent a request to the government to cancel the agreement with the company or revoke the petroleum rights, essentially preventing it from operating.

Fayad emphasized that drilling results from Block 9 are crucial for future exploration plans. He also made clear that the oil and gas sector in Lebanon will not progress unless foreign conditions are met.

He argued that TotalEnergies' actions undermine Lebanon's sovereignty, noting that the Lebanese government has not fully embraced several necessary steps for active oil and gas exploration.

He explained that the war towards the end of the exploration period forced TotalEnergies to stop drilling in Lebanon. "However, there has also been negligence on the part of the company regarding its contractual obligations."

Fayad confirmed that the ministry will make a decision on extending deadlines, and it is unlikely that new companies will come forward until March.

He indicated that an extension of deadlines is probable, but there is a lack of transparency regarding TotalEnergies' stance.

He called on the Lebanese state to take a unified position to summon TotalEnergies and reach clear points on this issue.