Page 15 - DMEA Week 36 2021

DMEA NEWS IN BRIEF DMEA

POLICY Energy Minister Hala Zawati said. Zawati and skillsets.”
added that the infrastructure is “almost ready, Aramco President & CEO, Amin H.
Egypt, Jordan and Syria but there are still repairs” to do. Nasser, said: “Namaat offers our partners
significant opportunities to participate in
Lebanon is also “working with the World
agree energy plan for Bank to ensure the financial resources needed Aramco’s long-term growth strategy and
to pay for energy imports from Egypt,” Ghajar
play a vital role in the Kingdom’s expanding
Lebanon said. energy and chemicals supply chain. The
benefits for everyone involved are multiple as
AFP
Energy ministers from Egypt, Jordan, Syria well as mutual and I am proud that Aramco
and Lebanon yesterday agreed a plan to bring continues to be a catalyst at the heart of the
gas and electricity to crisis-hit Lebanon at a COMPANIES Kingdom’s transformation, harnessing its
meeting in Amman. expertise and resources to champion new
Egypt’s minister for oil and mines Tarek al- Aramco expands industrial markets and growth sectors. We believe
Molla said that his country would “be ready to these exciting target sectors offer significant
transfer gas (to Lebanon) as soon as possible” investment programme opportunities for all the current and
via the transnational Arab Gas Pipeline. prospective parties involved.”
But damage to the pipeline and electricity Aramco announced a major expansion ARAMCO
lines during the decade of civil war in Syria of its industrial investment programme,
means that energy supplies cannot start Aramco Namaat, with the signing of 22
flowing before repairs are carried out. new Memoranda of Understanding (MoUs) REFINING
In the push to help revive the stricken and 1 joint venture (JV) agreement focused
Lebanese economy, the US has given rare on capacity building in four key sectors: MENA’s largest biodiesel
approval for the Arab neighbors to escape sustainability, technology, industrial and
punishment under sanctions targeting the energy services, and advanced materials. refinery begins operations
Syrian regime. Namaat means [collective] growth in
Fuel and power shortages are one of the Arabic and the programme aims to tap Dubai is now home to the MENA region’s
most acute symptoms of Lebanon’s economic into the vast opportunities available in largest biodiesel refinery. The 2nd generation
collapse, paralyzing the economy and vital Saudi Arabia to create new value, and drive waste-to-energy refinery is BioD’s biodiesel
services like hospitals. economic expansion and diversification. second plant and boasts a per annum capacity
The World Bank has labelled Lebanon’s Aramco Chairman, H.E. Yasir Al- of 30,000 Mt per annum.
situation the worst economic crash since the Rumayyan, said: “Aramco continues to be In line with the UAE’s latest initiative
mid-19th century. Yesterday, Lebanese Energy at the forefront of enabling and enhancing “Operation 300 Billion. Make it in the UAE”,
Minister Raymond Ghajar said the country the Kingdom’s industrial, technology and BioD has announced the commissioning of a
needed “600 million cubic meters of gas to sustainability infrastructure through large- biodiesel refinery here in Dubai, Jebel-Ali Free
provide 450 megawatts of electricity”. scale investments and key partnerships, such Zone. Says Mr. Shiva Vig, the founder and
The gas pipeline linking Jordan and as IKTVA and, by extension, Namaat. Such CEO of BioD Technologies FZE.
Syria was hit in Aug 2020 in a blast dubbed initiatives help further drive economic growth The 30,000 Mt per annum capacity
a “terrorist act” by Damascus. Meanwhile and diversification, ensure greater reliability refinery here is the second plant of the BioD
“it will take several months to repair the of energy supply, effectively localize the group. The first, similar operation, started in
damaged electric lines in Syria,” Jordan’s industrial supply chain, and create better jobs Northern India in early 2019.

Week 36 09•September•2021 www. NEWSBASE .com P15