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FINANCIAL NEWS
Lebanon eyes new $350m gas pipeline project
23 Dec 2010
(MENAFN) Jibran Bassil, Lebanese Energy and Water Minister, presented a project for a gas pipeline along the Lebanese coast that is worth $350 million, reported The Daily Star.
The minister said that the project would consist of a 174 km pipeline that goeas all the way from Dier Ammar power station in Tripoli to Tyre. The project aims to decrease energy cost in Lebanon by $740 million a year.
Bassil added that the Cabinet already had received this project as a part of a bigger plan worth $5 billion for restructuring electricity sector in Lebanon. ACE and IMEG had won the tender for it. The study alone had cost for $1.05 million.
Bassil has also said that any delays in sub-projects under the restructuring of the electricity sector would cause a failure in the whole plan.
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