Energy Minister Joe Saddi (center, in the back) with representatives of the International Finance Corporation at the ministry. (Credit: Photo provided by the ministry on May 21, 2026)
BEIRUT — Energy and Water Minister Joe Saddi met Wednesday and Thursday with representatives of the International Finance Corporation (IFC, the World Bank's international financial institution) to discuss the ministry's plan to generate electricity from gas in Lebanon, beginning with the Deir Ammar site in northern Lebanon, where one of Electricité du Liban's (EDL) main power plants is located, and one of the country's two oil facilities, along with Zahrani in south Lebanon.
According to the ministry's statement, the discussions focused on the legal, technical and financial aspects related to the establishment of a floating storage and regasification unit (FSRU, infrastructure designed to receive liquefied gas, store it and regasify it before injecting it into a distribution network), as well as the construction of a new gas-fired power plant, which is currently under study.
Participants also worked on a roadmap and scheduled the next meeting for June 15.
Lebanon's electricity sector has been in chronic crisis for decades. The country's aging power plants run on fuel oil, which is on average 30% more expensive than liquefied natural gas (LNG). Plans to build gas-fired power plants and gas terminals have long been backed by successive energy ministers, though few have materialized.
Saddi has recently increased media appearances to promote projects aimed at rehabilitating the sector, notably the construction of FSRUs and repairs to the gas pipeline linking Lebanon to Syria, on the Lebanese side.
