Lebanon’s energy market future looks bright because of the plans to use Liquefied Natural Gas as an alternative fuel source to gas oil, a ministry expert told The Daily Star Tuesday.
Zaher Sleiman, adviser to Energy Minister Gebran Bassil said: “Once the necessary infrastructure and required import terminals are completed, Lebanon would save more than $1 billion in spending on its energy bill, with a $2 billion impact on the economy as a whole”.
According to Sleiman, by mid-2015, the usage of imported LNG for electricity production should be possible.
Gebran Bassil has concluded the technical and feasibility study for the coastal gas pipeline construction. The construction stretches 173 kilometers from Beddawi to Tyre, Sleiman said.
Pipeline construction will start in 2013, with additional work of building FSRU terminals which will take 22 months to complete, Sleiman added.
Deir Amar, Zahrani, Tyre and Baalbek are Lebanon’s four power plants that are already equipped to operate using LNG but are currently running on gas oil. By 2016, Beddawi, Zouk and Jiyyeh are expected to be equipped to operate on LNG.
Sleiman added that the energy bill would be dramatically cut by LNG usage.
Also, the Petroleum Administration must be established before the first licensing round for oil and gas exploration off Lebanon’s coast starts.
[mappress] LNG World News Staff, July 04, 2012