The Syrian Ministry of Energy is seeking more than 30 billion US dollars to fully rehabilitate the country’s oil, minerals, electricity, and water sectors, according to Communications Director at the ministry, Ahmad Suleiman.
Speaking to The National in remarks published Saturday, 8 November, Suleiman said the electricity sector alone needs 10 billion dollars for a comprehensive overhaul that covers transmission and distribution lines, meter installations, and power generation plants.
“We met with many Emirati, international, and local companies and all expressed readiness to invest in Syria,” he said, noting that discussions focused on maintaining and upgrading infrastructure in the oil and electricity sectors, in addition to water infrastructure.
Suleiman added that the ministry aims to produce 22 million cubic meters of gas per day to supply power turbines with their full requirements, alongside restoring national crude output to pre-war levels.
He said Syria plans to revive the Arab Gas Pipeline and the Kirkuk–Baniyas line, indicating that work is currently under way on the Arab Gas Pipeline that connects Jordan with Syria. The official noted that progress on this line is going well, natural gas has been imported through it, the ministry is maintaining and upgrading the segment inside Syria, and it has also been linked to the Republic of Turkey.
Investor outreach and company list
Suleiman said the ministry held numerous meetings with companies including SLB, Halliburton, Baker Hughes, Hunting Energy, the UK-based Gulfsands Petroleum, Chevron, BP, TotalEnergies, and Shell.
From the United Arab Emirates, participants included Damson Energy, Dragon Oil (ENOC), Crescent Petroleum, TAQA, and Petromal.
Regional participants, he added, included Saudi Arabia’s ACWA Power and the Saudi Energy Company, as well as Doha-based Well Head Delta of Qatar and Petroleum Barrel.
He said investors who took part in this week’s discussions were invited to visit Syria “to see the situation on the ground.” The talks were “fruitful,” he added, voicing optimism that they will soon translate into concrete partnerships and near-term investments that benefit the Syrian people. “Whether that is after a day, a month, or next year, visits from these companies will begin,” he said.
World Bank grant
Suleiman described the World Bank grant as a positive step, but modest compared with the tens of billions planned by the ministry, and not immediately executable. “The procedures to obtain this grant are relatively long,” he said, adding that the ministry is simultaneously seeking other partners and working with neighboring countries to attract capital and connectivity.
On 25 June, the World Bank said it approved a 146 million dollar grant to help Syria restore reliable and affordable electricity and support the country’s economic recovery, through the Syria Emergency Electricity Project (SEEP). The project aims to rehabilitate damaged transmission lines and substations and provide technical assistance to develop the electricity sector and build institutional capacity.
Jean-Christophe Carret, World Bank Country Director for the Middle East, said rehabilitating the electricity sector has emerged among Syria’s most urgent reconstruction needs, with a potential to improve living conditions, support the return of refugees and internally displaced people, enable the resumption of services such as water and health care, and help drive economic recovery. He described SEEP as the first step in the Bank’s plan to scale up support for Syria’s path toward recovery and development.
Syria’s Finance Minister, Mohammed Yosr Bernieh, told Enab Baladi the 146 million dollars requested from the World Bank is a grant rather than a loan, meaning it carries no interest, fees, or installments and does not require repayment in any form. He said Syria is not considering borrowing from international financial institutions at this time. According to the minister, Syria qualifies for several international grants, and the Finance Ministry will work to leverage all available grants from regional and international institutions and UN bodies in coordination with the relevant Syrian ministries and agencies.
