Baker Hughes, Hunt to Draft Syria Energy Plan After Sanctions Lifted

Baker Hughes, Hunt Energy and privately held Argent LNG have formed a coalition to draft a comprehensive masterplan for Syria’s oil, gas and power sector, Argent LNG Chief Executive Jonathan Bass told Reuters. The partnership marks the first major U.S. commercial initiative in the country since President Donald Trump lifted one of Washington’s tightest sanctions regimes at the end of June. The companies aim to map opportunities across the energy value chain—from exploration and production to building combined-cycle power plants—to help restore an electricity network that generates just 1.6 gigawatts, down from 9.5 GW before the civil war began in 2011. Initial work will concentrate on territory west of the Euphrates River that is under the control of the Syrian government. Syrian officials say the grid requires billions of dollars in investment, and the U.S. group joins a growing roster of foreign firms, including Qatar’s UCC Holding, that are exploring projects in power generation and port infrastructure. The U.S. firms’ visit to Damascus follows a May meeting between Trump and Syrian President Ahmed al-Sharaa in Riyadh, which accelerated the easing of sanctions and opened the door for American investors.