Abboud calls for gas supply from Egypt, Syria

October 23, 2009

BEIRUT: President of the association of industrialists Fadi Abboud said Thursday that the quickest solution for providing energy-intensive factories with natural gas from Egypt is to convince the latter and Syria to pump additional volume of gas.

He asked the government to find a solution for these factories otherwise they will have to go bankrupt and end their operations just like what happened with Uniceramic. “The cost of such a solution is between $50 and $60 million,” he said.

Abboud suggested that the government offers a 10 million square meters of land where all of the energy intensive factories will be relocated and a power plant can be constructed, for it to be able to provide 25 percent of the natural gas imported from Egypt to those factories.

“This will make it easier to move a great volume of the gas to the needy factories because it is difficult to do it otherwise,” he added. Abboud added that if energy intensive factories closed, this will cost the government more than $200 million.

Source: The Daily Star.
Link: http://www.dailystar.com.lb/Business/Lebanon/Oct/23/Abboud-calls-for-gas-supply-from-Egypt-Syria.ashx.