In a press conference, the Minister of Energy Walid Fayyad revealed that the state has accumulated ‘debts’ to Russia in the form of liquidity problems for payment of energy cargo. This is an issue that needs to be addressed urgently as it affects both the energy sector and the economy at large.
The lack of liquidity for payments for gas shipments from Russia has caused a disruption in energy supply and hIn a press conference, the Minister of Energy Walid Fayyad revealed that the state has accumulated ‘debts’ to Russia in the form of liquidity problems for payment of energy cargo.
the Minister of Energy Walid Fayyad revealed that the state has accumulated ‘delay fines’ worth nearly $1 million for failing to pay for and unload the cargo of 4 gas and fuel-oil ships moored to Lebanon's coast. The ships belong to the company Vitol.The minister's solution to the electricity crisis requires approval by the Prime Minister of a treasury advance of $62 million to empty the vessels and $75 million for future vessels, in addition to maintenance costs worth $54 million.
This is an issue that needs to be addressed urgently as it affects both the energy sector and the economy at large. The lack of liquidity for payments for gas shipments from Russia has caused a disruption in energy supply and has put a strain on state finances. It is essential that we find a solution to this problem in order to ensure uninterrupted gas supplies and financial stability in the country.
”This would be a case of “the state has accumulated debts”. In other words, there is no state debt to Russia, merely a problem of liquidity in payment for gas shipments. The issue then becomes one of addressing the problem urgently and finding a solution. This would be done within the context of maintaining uninterrupted gas supplies and financial stability in the country.
