Egypt to supply Lebanon with electricity

Aug. 19, 2008 at 2:18 PM

BEIRUT, Lebanon, Aug. 19 (UPI) -- Egypt will supply energy to Lebanon.

Lebanese Prime Minister Fouad Siniora has announced Egypt will help to meet the country's growing electricity demand, the Daily Star reported.

In order to address Lebanon's continued energy rationing, Siniora led a delegation to Egypt to meet with Egyptian President Hosni Mubarak to discuss some solutions.

Energy ministers from both countries will hold several meetings over the next few days to hammer out details and come up with a draft agreement that may be signed.

Former Lebanese Finance Minister Jihad Azour said the energy crisis there is so severe that Electricite du Liban's losses could reach $1.5 billion at the end of 2008, especially if oil prices climb again, because most of Lebanon's power stations run on oil.

A previous deal between Egypt and Lebanon fell through, but Siniora said the two nations are working quickly to bring in new electricity. Under the proposed agreement, Egypt would supply Lebanon with 200 megawatts of electricity in less than two months.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Ford recalls 432,000 North American vehicles over software bug
Aetna to acquire Humana for $37 billion in cash, stocks
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue