Oct 16 2010 |
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Beirut, Tehran Ink 17 Trade Agreements
Lebanon and Iran signed 17 trade agreements on Wednesday in the economic, oil and energy fields.President Mahmoud Ahmadinejad said that Tehran is capable of solving the country's chronic electricity problems.
Ahmadinejad, who held talks with Lebanese President Michel Sleiman at Baabda Palace, stressed that Tehran was prepared to improve the volume of trade between Lebanon and Iran, the English-language newspaper Daily Star wrote.
Among the key agreements which were signed was an energy accord between Lebanon Energy and Water Minister Jibran Bassil and Iranian Foreign Minister Manouchehr Mottaki. Details of the agreement were not disclosed during the signing ceremony, but Bassil has on previous occasions assured that Iran can help Lebanon build power plants at very competitive rates.
Bassil, who visited Iran five days ago, discussed the possibility of signing contracts under which Iran would build one or two gas-operated power stations at reduced rates.
Talking to reporters after a meeting with Iran's Energy Minister Majid Namjou in Tehran, Bassil said that Iran was determined to help solve Lebanon's problems in the field of energy.
He noted that his country was interested in using Iran's experience in all fields.
Bassil announced a deal with Iran to set up a technical committee to review Lebanon's energy-sector shortfalls.
"Iran can export electricity to Lebanon via Turkey and Syria," he said, adding that Lebanon boasted sizeable water resources, but, that it had not been able to make optimal use of them.
"Lebanon will use Iran's experience in various fields such as dam construction" the minister said.
He urged Iranian oil companies to explore and develop Lebanon's oil and gas fields.
On Friday, Bassil and Namjou signed in Beirut a deal to provide Lebanon with $450 million worth of letters of credit to allow the Lebanese government to finance some of the ambitious energy projects.
Lebanon is in dire need of more power stations to meet the growing consumption, which, according to experts, reached its peak some 10 years ago. At present, Lebanon's electricity output is less than 1,600 megawatt, while the actual need is over 2,400 megawatt.
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