Latest news with #EnergyandWater
MTV Lebanon
3 days ago
- Business
- MTV Lebanon
Media Office Walid Fayad: Minister Saddi could have canceled the tender had he not been convinced of its suitability
Despite the accusatory tone adopted by the media office of the current Minister of Energy and Water, Mr. Joe Saddi, the substance of the statement issued on June 6 confirms the position previously expressed by former Minister Dr. Walid Fayad during his interview with MTV. Specifically, it affirms that the current minister was indeed the one who signed the fuel supply agreement with Iraq for the fourth consecutive year and also signed the $200 million contract with the supplying company. It is worth noting that he could have canceled the tender initiated by Minister Fayad had he not deemed it appropriate. This amount will be added to the debt owed to Iraq. As of June 2025—four months after Minister Fayad left office and the ministry was handed over to Minister Saddi—the total amount owed to Iraq has reached $750 million. At the time of the ministerial handover, the outstanding amount was lower, standing at $600 million, precisely as Dr. Fayad had stated. Dr. Fayad concluded by reaffirming that the severe conditions Lebanon has endured—and continues to endure—alongside the lack of viable alternatives to ensure the minimum required level of electricity supply at the lowest possible cost, necessitated recourse to Iraqi fuel and the acceptance of Iraq's generous and appreciated initiative. Accordingly, based on the principle of continuity in government and Minister Saddi's conviction of the soundness of the decisions made in this regard—and until more suitable fuel supply alternatives, especially natural gas, become available—Minister Saddi found no viable course of action other than to renew the Iraqi agreement and proceed with awarding the first fuel delivery contract.
L'Orient-Le Jour
07-05-2025
- Business
- L'Orient-Le Jour
Lebanon considering repaying Iraqi fuel with electricity and solar energy projects in Iraq, according to Jaber, Saddi
Finance Minister Yassine Jaber and Energy and Water Minister Joe Saddi concluded a two-day visit to Iraq on Tuesday, during which they discussed several issues with Iraqi officials, particularly in the fields of energy, electricity, communications and the oil supply line. According to a statement from the Ministry of Finance, discussions revolved around cooperation in the electricity sector between Iraq and Lebanon and ways to pave the way for Lebanese private sector participation in electricity and solar energy projects in Iraq, utilizing payment methods planned under the agreement for the supply of Iraqi fuel to Lebanon. This agreement, signed in the summer of 2021 and renewed since then, stipulated that Iraq, through SOMO, the state agency responsible for marketing oil, delivers a shipment of crude oil each month to a third-party company that would, in return, provide a corresponding quantity of fuel compatible with the power plants of Électricité du Liban (EDL). The new extension, signed by Joe Saddi on Feb. 12 and effective from March 1, provided for a quantity between 1.5 and 2 million tons over one year, which is 500,000 tons more than in the previous contract. According to the initial terms of this agreement, the Ministry of Finance was supposed to deposit in an account at the BDL the equivalent funds for the quantities received, so that Iraqi authorities can spend these sums exclusively in Lebanon in exchange for services, the nature of which was not specified. These sums have not yet been spent. Simultaneously, Jaber mentioned in his statement that Iraq committed to "sending 320,000 tons of wheat" to Lebanon, which will "soon be delivered to the Ministry of Economy." He also noted a serious discussion on future cooperation to restart the activity of the oil pipeline linking Iraq to Lebanon and the possibility of renovating the refinery located in North Lebanon so it can resume its activity once the situation in Syria stabilizes and fuel transportation can be made through its territory. The Lebanese delegation concluded its visit to Baghdad with a meeting with Iraqi President Abdul Latif Jamal Rashid, who expressed his country's willingness to continue supporting Lebanon, fostering its development, and strengthening its stability. The finance minister thanked "the presidency, the government and the Iraqi people for their compassion and assistance through the darkest circumstances Lebanon has faced," conveying greetings from President Joseph Aoun and Salam government to the Iraqi president and appreciation for the "role played by Iraq, whether by providing Lebanon with fuel for its electricity, or by hosting a large number of displaced people and offering them various social services." Hezbollah and Israel were engaged in a conflict that began in October 2023, parallel to the war that erupted in Gaza, and intensified in September 2024 before a cease-fire was reached in November 2024.
L'Orient-Le Jour
03-05-2025
- Business
- L'Orient-Le Jour
Lebanese ministers to visit Iraq for fuel talks and closer cooperation
Lebanon's Finance and Energy Ministers will visit Baghdad to discuss Iraqi fuel supplies for Lebanon's power sector and strengthen ties with Iraqi officials, Finance Ministry announced Friday. The meeting brought together Finance Minister Yassine Jaber, Minister of Energy and Water Joe Saddi, and Director General of General Security Hassan Choukeir. According to the statement, the Lebanese ministers are scheduled to meet with Iraq's Minister of Oil, Minister of Electricity, the President of the Iraqi Republic, and other officials, as outlined in the visit's agenda. Following the meeting, Jaber stated, 'The meeting was held to coordinate the visit that the Minister of Energy and I will make to Baghdad starting next Monday. Iraq is known to be one of the countries that stood by Lebanon during its most difficult times.' He added, 'Let us remember that in previous years, during the brutal war on Lebanon, Iraq provided aid and supported us when there was a shortage of fuel to operate Lebanon's electricity plants.' The visit, Jaber said, aims to express gratitude to Iraq and strengthen bilateral coordination, especially regarding pending issues related to payments for fuel previously purchased. 'Another important aspect involves the payment mechanism, which, in accordance with Lebanese law, is based on the exchange of goods and services. In addition, we will discuss a range of other matters. It is vital that we maintain strong, ongoing relations with Iraq. We are going to thank the Iraqi leadership and to plan future cooperation,' he said. Jaber clarified that the visit does not involve immediate payment. 'There is a parliamentary-approved agreement for payments to be made through goods and services. A dedicated fund has already been established, with contributions from Electricité du Liban. Some funds have already been deposited, more will be added, and there is strong parliamentary backing to ensure continued funding.' Jaber also discussed the visit to Iraq with president Joseph Aoun. After the meeting, the minister said he "received his directives regarding the upcoming visit to Iraq, which will take place next Monday with the Minister of Energy." At the end of March Iraqi Prime Minister Mohamad Chia Al-Soudani announced that his country will supply fuel to Lebanon for a period of six months. A fuel supply contract had been concluded between Lebanon and Iraq as part of the agreement signed in the summer of 2021, which has been renewed since then. This agreement stipulates that Iraq, through SOMO (the public agency responsible for marketing Iraqi oil), will provide a monthly shipment of crude oil to a third-party company, which, in return, delivers an amount of fuel compatible with Lebanon's Electricité du Liban (EDL) power plants, with the value equivalent to the crude oil received. On Feb. 12, Joe Saddi, the Minister of Energy and Water in the government of Nawaf Salam, signed the renewal of this agreement. The new extension, which took effect on March 1, involves a quantity ranging from 1.5 to 2 million tons over a year, which is 500,000 tons more than the amount specified in the previous contract. Recently, EDL had rationed its supply due to a delay in the delivery of the last fuel shipment expected under the barter agreement between Iraq and Lebanon. Lebanon's electricity sector is hindered by structural gaps and insufficient capacity to meet the country's needs, which relies on private generator owners for additional power supply.
National News
12-04-2025
- Politics
- National News
Al-Saddi: Priority is to implementing any law before reviewing it
NNA - Minister of Energy and Water, Joe Saddi, wrote today on his platform "X" account: "From the first moment I assumed my duties at the Ministry of Energy and Water, I pledged to implement the regulatory authority in accordance with the approved Law 462, after its establishment had been delayed since the law's enactment 23 years ago. The authority is essential for regularizing the sector and for the reform project I am working on. Moreover, priority is to implementing any law before reconsidering it." Saddi added, "As for organizing update workshops on the law upcoming May and June, this does not conflict with the regulatory body's work. Our laws must be continuously updated to keep pace with new developments." =========
MTV Lebanon
10-03-2025
- Business
- MTV Lebanon
Energy Minister visits Paris for talks on gas exploration, electricity sector cooperation
Minister of Energy and Water Joe Saddi visited Paris in the middle of last week, where he held a working meeting with Patrick Pouyanné, Chairman and CEO of TotalEnergies, to discuss gas exploration in Lebanon. During his visit, Saddi also met with Béatrice Buffon, Chairwoman and CEO of Renewable Energy at Électricité de France (EDF) and the company's Director of International Management. Discussions focused on Lebanon's electricity sector and ways to leverage French expertise and capabilities to enhance its development.
