The amounts will be sufficient enough to run the entire gas turbines and production units at Deir Amar power plant in the North.

The move will reduce Electricite Du Liban’s (EDL) annual deficit of $1.2 billion by saving $240 million in profits annually.

The agreement came during the visit of Prime Minister, Saad Hariri to Egypt.

General manager of the Deir Amar plant, Sarkis Hleis, said that Egypt will start supplying Lebanon with the additional gas in February.

Egypt initiated supplying Lebanon with gas in November 2009.

Currently, the gas supplied runs half of the existing production units at the power plant which has a total capacity of 450 megawatts, and operates on gas instead of fuel, as gas price are much cheaper than that of fuel.