Arab Today, arab today safadi releases funds for electricity barges
Last Updated : GMT 01:22:22
Arab Today, arab today
Arab Today, arab today

Safadi releases funds for electricity barges

Arab Today, arab today

Arab Today, arab today Safadi releases funds for electricity barges

Beirut - Arabstoday

The Finance Ministry finally released Monday the funds needed to lease two electricity generating barges as the Energy Ministry prepared to receive the boats in less than two months. A source at the Finance Ministry said Minister Mohammad Safadi had signed a memo for the release of the funds and sent it to the prime minister’s office. The source added that the release of the funds would speed up the leasing of barges from the Turkish company Karkey Karadeniz Elektrik Uretim. The Energy Ministry told The Daily Star that it has taken all technical and logistical steps necessary to receive the barges at electricity plants in Lebanon. It added that once the barges dock near the electricity stations off the coast, the technical teams will immediately connect the cables of the ships to the power plants. Officials at the ministry say the barges can start generating electricity in two to three weeks at the most once they arrive to Lebanon. Lebanon was supposed to receive the barges this summer, but a lack of funds and continued bickering in the Cabinet delayed the operation. Energy and Water Minister Gebran Bassil accused some members of the Cabinet of deliberately delaying the barges’ leasing. Bassil threatened to name all the parties who had delayed the arrival of the Turkish barges if the Finance Ministry continues to come up with pretexts not to release the funds. In July 2011, Bassil signed an agreement with Turkish firm Karkey Karadeniz Elektrik Uretim to lease two electricity generating barges for $360 million and for a three year period. The two ships are expected to generate 270 megawatts of electricity. Bassil said the state-run Electricite du Liban would be able to save between $30 to $130 million a year on fuel by leasing the barges, which consume less fuel than the regular power plants in Lebanon. Lebanon’s current electricity production stands at around 1,500 MW, while demand soars above 2,400 MW. The huge deficit renders the country vulnerable to severe power rationing that often exceeds 12 hours a day outside of Beirut. According to Bassil, the power barges would produce energy at rates of almost $0.06 per kilowatt hour, significantly less than in Lebanon’s outmoded plants. Energy Ministry estimates put Lebanon’s current energy costs at no less than $0.17 per kilowatt hour. EDL officials said the technical teams at the company will shut down two aging power plants when the barges arrive to Lebanon to carry out maintenance work on these stations. They added that some of the power plants may stop operating if the necessary repairs are not carried out. Experts say the barges will partially resolve Lebanon’s electricity crisis but warned that more investment was needed to build two or three power plants that run on natural gas. From DailyStar  

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 safadi releases funds for electricity barges Arab Today, arab today safadi releases funds for electricity barges

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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