Latest news with #Saddi
MTV Lebanon
2 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.
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." =========
LBCI
10-03-2025
- Business
- LBCI
Lebanese Energy Minister visits Paris for talks with TotalEnergies and EDF
Lebanese Minister of Energy and Water, Joe Saddi, visited Paris last week, where he held discussions with top executives from leading French energy companies. Saddi met with Patrick Pouyanné, Chairman and CEO of TotalEnergies, during his visit to discuss ongoing gas exploration efforts in Lebanon. The meeting focused on the company's role in the country's offshore energy sector and potential future developments. The minister also held talks with Béatrice Buffon, Chairwoman and Executive Director of Renewable Energy at Électricité de France (EDF), as well as the head of EDF's international division. Their discussions centered on Lebanon's electricity sector and ways the country could benefit from French expertise and capabilities in renewable energy and power management.
LBCI
13-02-2025
- Business
- LBCI
Lebanese Energy Ministry handover centers on reform, sustainability, and tackling corruption
A formal handover ceremony occurred at the Energy Ministry, where outgoing minister Walid Fayad transferred responsibilities to newly appointed minister Joe Saddi. Fayad reflected on his tenure, stating that his approach was rooted in reform and rescue, aimed at restoring the sector's financial health and improving services to citizens. He noted that significant results had already emerged, with institutions regaining financial stability and enhancing their ability to serve the public and contribute to the nation's recovery. He highlighted the continued efforts in the electricity sector, urging the new minister to advance reforms, particularly by presenting a bill to amend Law 462 to the Cabinet, which would then be sent to the Parliament. Fayad also emphasized the importance of completing the process of appointing the Electricity Regulatory Authority within the next three months. He expressed hope that Saddi would continue to increase electricity supply to the maximum capacity of available plants, aiming for 12-14 hours of service, reducing waste and improving revenue collection. These initiatives would contribute to a gradual reduction in electricity tariffs. Fayad also mentioned the projects for importing electricity from Jordan and gas from Egypt, stating that while contracts had been signed and lines had been rehabilitated, international circumstances had delayed their implementation. Minister Saddi outlined his priorities in his speech, stating that his administration would focus on structural and administrative reforms in the electricity and water sectors. He pledged to establish the electricity regulatory authority, activate the administrative councils of the ministry's institutions, and complete the necessary decrees to provide better services and gradually increase electricity supply at lower costs. Saddi emphasized that his commitment to the Lebanese people was not based on empty promises but on leveraging all his experience, energy, and relationships to serve them effectively. He expressed his intent to maintain a professional, team-oriented approach, working swiftly to address the sector's numerous challenges. He also committed to implementing a "constructive neutrality" within the ministry, keeping it free from political disputes and focusing on institutional work based on transparency and sustainability. Additionally, Saddi vowed to tackle corruption head-on and ensure that both short-term and long-term solutions were devised through clear strategies, scientific expertise, practical experience, and, most importantly, sound management and accountability.
