Reuters: US companies prepare energy plan for Syria after sanctions are lifted
In an unprecedented move following years of international sanctions, American liquefied natural gas company Argent announced a strategic partnership with Baker Hughes and Hunt Energy to develop a comprehensive plan to rehabilitate Syria’s oil and electricity sectors after nearly 14 years of war and the collapse of its energy infrastructure.
Argent CEO Jonathan Bass confirmed to Reuters that the three companies are working on an integrated plan to develop oil and gas exploration and power generation projects in areas under Syrian government control west of the Euphrates River.
This US move represents a major shift in economic policy toward Syria, especially after US President Donald Trump’s decision to lift US sanctions on Damascus at the end of last June, which opened the door to previously prohibited US investments.
According to Bass, the plan aims to develop a basic strategy for rebuilding Syria’s energy and electricity sector and improving the efficiency of generation and distribution in the near term, with a focus on combined-cycle power plants, which could provide a significant boost to reconstruction efforts and improve the quality of public services for the population.
He pointed out that the work includes all stages of the energy value chain, from exploration and extraction to electricity generation, in coordination with the relevant authorities inside Syria.
Despite Bass’ assurances, Baker Hughes and Hunt Energy declined to comment on the project, and neither responded to Reuters inquiries.
It’s worth noting that most of Syria’s oil is concentrated in the eastern areas under the control of the US-backed Syria Democratic Forces, which are not included in the current plan.
This step comes at a time when investment companies from the Arab Gulf states – particularly Qatar and Saudi Arabia – are racing to sign major agreements to support energy, infrastructure, and port projects in Syria.
Last May, the Syrian government signed a $7 billion memorandum of understanding with the Qatari company UrbaCon to develop gas-fired and solar power plants, including four combined-cycle gas turbine plants and a 1,000-megawatt solar power plant in the south of the country.
In an indication of the seriousness of the American partnership, Jonathan Bass and Hunt Energy CEO Hunter L. Hunt arrived in Damascus on a private jet accompanied by a senior official from Baker Hughes, where they met with Syrian Finance Minister Mohammad Yusr Barniyeh to discuss prospects for energy cooperation.
Bass explained that the visit coincided with Israeli airstrikes on the capital, Damascus, noting that they were in a meeting with Minister Barniyeh at the time of the bombing, describing the event as significant and surprising.
Bass began working on the project last April, following his meeting with Syrian transitional President Ahmed al Sharaa in Damascus, as part of efforts to establish a long-term partnership in the energy sector.
