Arab Today, arab today bassil moving to natural gas will save billions
Last Updated : GMT 06:09:34
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.

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*

Arab Today, arab today bassil moving to natural gas will save billions Arab Today, arab today bassil moving to natural gas will save billions

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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