NNA - Caretaker Minister of Energy and Water, Walid Fayad, recently participated in a conference titled "The Role of Gas in the Energy Transition in the Mediterranean Basin" in Paris, organized by the Mediterranean Energy and Climate Organization (OMEC). 

The event drew high-level attendees including Egyptian Petroleum Minister, Tarek El Mala, and representatives from the European Commission.

During his speech, Minister Fayad underscored the critical need for stability in the Mediterranean as a foundational element for achieving energy transition goals. He emphasized the imperative of ending the conflict in Gaza, not only for humanitarian reasons but also to enhance energy security in the region. 

Fayad also discussed Lebanon's gas sector, highlighting the ongoing third licensing round which includes nine out of ten blocks. 

Notably, exploration in Block 9 has drawn significant interest from a consortium comprising Total, Eni, and Qatar Energy.

Furthermore, Minister Fayad elaborated on Lebanon's recent energy policy shifts, including the removal of subsidies on oil derivatives and electricity prices. He noted how this shift has propelled the renewable energy sector forward, evidenced by the recent approval of the Distributed Renewable Energy Law by the Parliament.

On the international front, Fayad highlighted Lebanon's participation in the MED-GEM project, funded by the EU, aimed at developing a green hydrogen strategy. He emphasized the importance of cooperation among Mediterranean countries, stressing the significance of addressing shared energy infrastructure challenges.

Minister Fayad is expected to return to Beirut following the conclusion of the conference.

=========R.H.