Over $7 billion… The value of the deal between al Sharaa and Trump for a US plan to rebuild Syria!
Jonathan Bass, CEO of Argent LNG, announced on Friday that three US companies will develop a comprehensive plan to rebuild Syria’s destroyed oil, gas, and energy infrastructure.
This move comes in the wake of President Trump’s decision to lift US sanctions on Syria.
The companies plan to evaluate and develop energy production, including oil and gas exploration and combined-cycle power generation, with a primary focus on areas west of the Euphrates River under Syrian government control.
Syria’s electricity system has collapsed from a generating capacity of 8,500 megawatts in 2011 to 2,500 megawatts today.
Bass, who met with Syrian interim President Ahmed al Sharaa in April, said companies are working closely with local authorities to develop a comprehensive plan.
His visit to Damascus this week coincided with Israeli air strikes on the capital.
Investor interest has increased significantly since the easing of sanctions, with Gulf companies pledging billions of dollars to rebuild Syria.
In May, Qatari company UCC Holding signed a $7 billion deal for new energy projects, including four gas-fired power plants and a 1,000-megawatt solar facility.
Syrian Finance Minister Yasser Barniyeh said, “This visit indicates a growing interest from American companies and investors in doing business with Syria”.
This comes after Syria announced this week that it had signed an $800 million agreement with Dubai Ports World to develop the port of Tartous, marking a first step toward Syria’s economic recovery.
