Egypt agrees to send gas to Lebanon amid crippling energy blackouts

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Updated 08 September 2021
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Egypt agrees to send gas to Lebanon amid crippling energy blackouts

  • Most Lebanese face electricity blackouts of up to 22 hours per day as leaders struggle to secure foreign currency to import fuel and gas

Egypt, Jordan and Syria will help provide Lebanon with up to 17 hours of electricity per day to tackle the crippling energy shortages that have repeatedly plunged the country into darkness.

Energy Ministers of the three countries agreed on Wednesday to draw up a road map to supply Lebanon with Egyptian natural gas to generate power and alleviate energy rationing in the small Mediterranean country.

Most Lebanese face electricity blackouts of up to 22 hours per day as leaders struggle to secure foreign currency to import fuel and gas.

After a meeting between ministers of the four countries held in Jordan, Lebanese caretaker energy minister Raymond Ghajar told a news conference his country was working with the World Bank to secure financing for the scheme and repairs to the country's infrastructure.

He added: "We have one gas plant in Deir Ammar that has 450 megawatts, and we need about 600 million cubic meters of gas annually.

Egyptian Petroleum Minister Tarek El-Molla set out more details, and said:  “We hope to export gas to Lebanon as soon as possible and there is a need to check the gas transportation infrastructure in order to provide Beirut with supplies,”

The ministers also agreed to discuss the situation of the Syrian infrastructure for the transmission of electricity, as Syria has approved gas and electricity transit through its territory to Lebanon.

"The transmission line was damaged but it's repaired and it is now ready and protected by a security company," Syrian Minister Ali Ghanem said.

The launch date of the project was not disclosed.

Once this agreement is implemented, 17 hours of electricity per day will be provided.

According to Ghajar, gas from Egypt will provide 4 hours of electricity, and Jordan is ready to sell the surplus electricity, providing 200 to 400 MW, or about 3 hours, local papers reported.

He also pointed out that Lebanon is receiving oil from Iraq which will be substituted with fuel suitable for the production plants, and this will give about 10 hours of electricity.

Lebanon needs about 3,000 MW to meet the needs of citizens, out of which 1,800 MW are secured from electricity plants and from two Turkish ships, Ghajar said.

The estimated deficit of 1,200 MW is much more because 50 percent of production is wasted due to old generators and the absence of meters to control consumption, he said.


PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

Updated 18 February 2026
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PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

JEDDAH: Humain, an artificial intelligence company owned by Saudi Arabia’s Public Investment Fund, invested $3 billion in Elon Musk’s xAI shortly before the startup was acquired by SpaceX.

As part of xAI’s Series E round, Humain acquired a significant minority stake in the company, which was subsequently converted into shares of SpaceX, according to a press release.

The transaction reflects PIF’s broader push to position Saudi Arabia as a central hub in the global AI ecosystem, as part of its Vision 2030 diversification strategy.

Through Humain, the fund is seeking to combine capital deployment with infrastructure buildout, partnerships with leading technology firms, and domestic capacity development to reduce reliance on oil revenues and expand into advanced industries.

The $3 billion commitment offers potential for long-term capital gains while reinforcing the company’s role as a strategic, scaled investor in transformative technologies.

CEO Tareq Amin said: “This investment reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.” 

The deal builds on a large-scale collaboration announced in November at the US-Saudi Investment Forum, where Humain and xAI committed to developing over 500 megawatts of next-generation AI data center and computing infrastructure, alongside deploying xAI’s “Grok” models in the Kingdom.

In a post on his X handle, Amin said: “I’m proud to share that Humain has invested $3 billion into xAI’s Series E round, just prior to its historic acquisition by SpaceX. Through this transaction, Humain became a significant minority shareholder in xAI.”

He added: “The investment builds on our previously announced 500MW AI infrastructure partnership with xAI in Saudi Arabia, reinforcing Humain’s role as both a strategic development partner and a scaled global investor in frontier AI.”

He noted that xAI’s trajectory, further strengthened by SpaceX’s acquisition, exemplifies the high-impact platforms Humain aims to support through strategic investments.

Earlier in February, SpaceX completed the acquisition of xAI, reflecting Elon Musk’s strategy to integrate AI with space exploration.

The combined entity, valued at $1.25 trillion, aims to build a vertically integrated innovation ecosystem spanning AI, space launch technology, and satellite internet, as well as direct-to-device communications and real-time information platforms, according to Bloomberg.

Humain, founded in August, consolidates Saudi Arabia’s AI initiatives under a single entity. From the outset, its vision has extended beyond domestic markets, participating across the global AI value chain from infrastructure to applications.

The company represents a strategic initiative by PIF to diversify the Kingdom’s economy and reduce oil dependence by investing in knowledge-based and advanced technologies.