NNA – Caretaker Energy Minister, Walid Fayyad, in an interview with LBCI, reaffirmed on Friday his commitment to contributing to Lebanon's development, noting significant progress in institutional work at the Ministry of Energy.
Fayyad discussed Lebanon's oil and gas sector, highlighting the geopolitical factors influencing Total's operations. He also criticized Total for its failure to meet contractual obligations and stressed that progress in the sector depended on external conditions.
“Total is requesting a guarantee for Block 4 and has yet to provide the requested reports,” said Fayyad, adding that this prompted him to propose canceling the agreement.
Fayyad also suggested prioritizing smaller specialized companies for exploration to enhance the sector’s development.
On electricity, he acknowledged the high cost of fuel affecting the bill and confirmed that Lebanon will have up to 12 hours of daily power by March, with current supply averaging 9-10 hours.
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