bassil moving to natural gas will save billions
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

Bassil: Moving to natural gas will save billions

Arab Today, arab today

Arab Today, arab today Bassil: Moving to natural gas will save billions

Beirut - Arabstoday

Moving to natural gas will save the country about $1 billion while protecting the environment and enhancing energy supply security, Energy and Water Minister Gebran Bassil said Friday. Speaking at an international workshop on natural gas at the American University of Beirut, Bassil underscored the importance of devising an energy policy that ensures both economic and environmental sustainability for the country.He added that by relying on gasoline, gasoil and diesel oil, the country was losing $6 billion annually, or 15 percent of the national GDP. “We should gradually move to natural gas, at much lower production costs, so we can move from a services economy that promotes clientelism to one that is self-reliant and productive,” Bassil said. Switching to natural gas would ensure security of energy supply as it would help diversify the energy mix, the minister said. “Moreover, natural gas is more environmentally friendly and much cheaper than fuel oil. A switch would produce more than $1 billion in savings,” Bassil said. The minister also spoke about the results of the latest offshore surveys which indicate a high presence of hydrocarbons, especially natural gas. He noted that the country was ready for the next phase of attracting construction companies, and has already prequalified 19 international companies in this sector. The government has already prepared a “flexible and protective” law for investors and the nation, and is ready with quality surveys and studies, as well as terms of reference, he added. “The use of natural gas may be the cornerstone for our energy strategy for the country,” he said. “AUB would be the best place to promote and fight for the new Lebanon.” AUB president Peter Dorman highlighted the importance of interdisciplinary research and energy studies in AUB’s strategic academic goals. “We are all impacted by energy issues,” he said. “By working together, utilizing the research acumen of academics, the hands-on experience of professionals, and the will of the government, we can reach our goals.” Farouk al-Kassem, president of Petroleum a.s. and a former adviser to the Norwegian Industry Ministry who was instrumental in developing the Norwegian Petroleum Directorate, spoke of the challenges ahead for the petroleum sector worldwide and in Lebanon. “The good news is that Lebanon has made an excellent start and has a historic chance to develop its energy sector,” he said. Kassem also warned that field development in deep water is technologically demanding and “only giant discoveries are likely to be of commercial interest.” Kassem also proposed that maintenance operations should be conducted by specially trained local personnel and suggested that a sovereign investment fund be created to collect proceeds from petroleum activities in order to help future generations.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bassil moving to natural gas will save billions bassil moving to natural gas will save billions

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bassil moving to natural gas will save billions bassil moving to natural gas will save billions

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday