Syrian president, Chevron discuss oil and gas cooperation

Syrian President Ahmed al-Sharaa met on Tuesday with delegations from U.S. energy giant Chevron and the Syrian Petroleum Company to discuss potential cooperation in oil and gas exploration projects along Syria’s Mediterranean coast, the state-run SANA news agency reported.

While the report provided few details about the talks, it said discussions centred on expanding collaboration in offshore exploration and the development of Syria’s energy sector. Chevron has not yet commented on the meeting.

Also present were representatives from Qatar’s UCC Holding, which recently led a consortium of international firms in signing a $7 billion memorandum of understanding to develop large-scale power generation projects in Syria.

The meeting reflects Damascus’s renewed push to attract foreign investment to rebuild its energy infrastructure, much of which was destroyed during more than a decade of civil conflict.

Syria’s power supply has seen modest improvements in recent months, partly due to natural gas imports from Azerbaijan and Qatar, following new agreements aimed at stabilising electricity production nationwide.

Before the war, Syria produced roughly 8.7 billion cubic metres of natural gas annually, but that figure has fallen to around 3 bcm in 2023, according to energy ministry estimates. The government has pledged to increase power generation and restore energy independence through new partnerships and investments.

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