US firms to draft Syria energy plan post-Trump sanctions lift
3 Min Read
Baker Hughes, Hunt Energy, and Argent LNG are set to lead Syria's energy sector reconstruction with a new master plan amid growing foreign interest.
-
A worker operates a makeshift refinery on the outskirts of Qamishli, northeast Syria, Saturday, March 22, 2025 (AP)
US-based firms Baker Hughes, Hunt Energy, and Argent LNG, will collaborate to create a masterplan for Syria's oil, gas, and power sector, as part of a partnership focused on reconstructing the country's energy infrastructure, which has been severely damaged over the course of a 14-year war, announced Argent LNG CEO Jonathan Bass on Friday.
The companies aim to support oil and gas exploration and extraction while also boosting power production to revitalize Syria's struggling economy, as the government works to reintegrate the country into the global market.
This closely follows a surge in agreements by other firms, many from Gulf Arab states, to develop Syria's power generation and port infrastructure.
'Comprehensive masterplan'
"We are initiating the development of a comprehensive masterplan for energy and power generation in Syria, based on a preliminary assessment of opportunities for near-term improvements in generation capacity and service delivery," Reuters cited Jonathan Bass as saying.
"Our efforts aim to support the revitalization of the energy sector in coordination with relevant stakeholders," he added.
"This includes potential activities across the value chain, from exploration and production to electricity generation, including combined-cycle power plants," Bass said, while refusing to divulge further information.
Reuters reached out to global energy services provider Baker Hughes and Texas-based electric utility Hunt Energy with emailed questions but did not receive an immediate response from either company.
Focus west of the Euphrates River
The initial focus of the plan will be on areas west of the Euphrates River, which are under Syrian government control, while the oil-rich eastern region remains under the control of the Syrian Democratic Forces, a Kurdish-led armed group supported by the United States.
Washington has urged the group to reconcile with the new authorities in Damascus following the ouster of former Syrian President Bashar al-Assad.
The war-torn energy sector requires billions in investment for reconstruction, prompting the financially strained Syrian government to seek private investors or donor funding to cover the massive costs.
Syria signed a memorandum of understanding in May with Qatar's UCC Holding for $7 billion worth of power projects, including four combined-cycle gas turbine plants and a 1,000-megawatt solar facility planned for southern Syria.
Interest in Syria grows despite instability
Syrian Finance Minister Yisr Barnieh stated in a LinkedIn post on Thursday that the three United States-based companies were establishing a coalition to invest in Syria and develop its energy sector.
"This visit signals a growing interest among American companies and investors in engaging with Syria," Barnieh stated.
Bass explained that he, Hunt Energy CEO Hunter L. Hunt, and a senior Baker Hughes executive had traveled to Syria aboard a private jet on Wednesday morning and were in discussions with Finance Minister Barnieh when Israeli airstrikes hit Damascus, causing explosions that rattled the city.
Bass described the explosions as "big" while noting he had been involved in the energy initiative since his April visit to Damascus, where he met with Syrian President Ahmad al-Sharaa.
"To work in Syria, there are potholes, there are ditches, it has craters," said Bass, adding, "If you don't have the team that's willing to accept craters, don't come."
