gas deal

FYI
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/18/2000
08:02 AM ---------------------------
From: Alhamd Alkhayat@ENRON on 12/17/2000 12:17 PM
To: alkhayat@pdq.net
cc: (bcc: Jeffrey A Shankman/HOU/ECT)
Subject: gas deal

A Syrian, Egyptian and Lebanese memorandum of understanding to transport,
market natural gas
Regional, Economics, 12/16/2000
In the presence of the Lebanese prime minister Rafik al- Hariri a memorandum
of understanding was signed on Friday in Beirut between Syria, Egypt and
Lebanon on the transportation and marketing of natural gas.

On the Syrian side the memo. Was signed by minister of oil Maher Jammal and
minister of oil in Egypt Sameh Fahmi and the Lebanese side was attended by
Muhammad Abdul hamid Beydoun, the minister of energy and waters, in the
presence of the secretary general of the Syrian- Lebanese higher council Nasr
al-Kouri.

The project aims at transporting Egyptian and Syrian gas prepared for
exportation to Lebanon, Jordan, Turkey and European countries to market it to
meet the local demands of gas in these countries.

In a statement to pressmen following the signing ceremony, the Egyptian
minister said the pipeline worth US $ 1 billion and that it would start near
al-Arish in Egypt in Northern Egypt and run under the waters of the
Mediterranean to Lebanon and Turkey through Syria.

The Syrian minister stressed the importance of the project which constitutes
a turning point in boosting joint regional Arab co-operation and which
signifies a vivid example on integrated Arab economy.

For his part, the Lebanese minister said that this project will strengthen
the economic potentials of the participating countries and have positive
impact on their general conditions.

Alhamd Alkhayat
ENRON CORP.
+1(713)853-0315

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