Iraq will begin exporting fuel to Lebanon starting January 2021 at "global prices", Minister of Oil Ihsan Abdul Jabbar announced yesterday.
Abdul Jabbar's remarks came in a statement after his meeting with his Lebanese counterpart, Raymond Ghajar, in the Iraqi capital city of Baghdad.
"Exported fuel will be part of a surplus over the Iraqi refineries' current demand," the minister pointed out, adding that the supply would be "limited and to be announced later." He noted that the exports were expected to cover the "requirements of the Lebanese power stations to generate electricity."
On his part, Ghajar told reporters that the meeting had discussed an "expansion in bilateral relations between the two countries."
Lebanon has been suffering from a severe lack of power for years, with most residential and commercial establishments dependent on generators.