The Minister of Energy and Water Mr. Joe Saddi recently signed a contract extending the agreement between the country and Iraq for one year. The contract, which came into effect on March 1, stipulates that Iraq will be providing Eléctricité du Liban with 1.5 to 2 million tons of fuel over the upcoming year, 500,000 tons more than what was specified in the previous contract. In exchange, Lebanon will be offering Iraq services worth some $1 billion, particularly in the healthcare sector. The deal was first established in summer of 2021 and has witnessed a gradual increase in supplied amounts, noting that these amounts are being supplied to a third-party company that on its turn supplies Lebanon a volume of fuel compatible with its power plants.