Pound Pressured, Power in Focus
The Syrian pound (SYP) has weakened about 4 percent against the US dollar (USD) over the past week, trading near 14,500 to the dollar and keeping the cost of imported energy under close watch. Over the past month the currency has moved roughly 7 percent, even as it held broadly steady in the latest day.
Against that backdrop, officials are working to lock in the gas that keeps much of the country's electricity flowing. On 12 June 2026, the deputy energy minister for oil affairs met representatives of a Gulf development fund to discuss extending a grant that pays for Azerbaijani natural gas delivered to Syria.
A Two-Year Renewal Request
Syria formally asked that the grant be renewed for two years, with larger volumes that would raise supply to 4 million cubic meters. The request ties the extension to the country's economic recovery and to keeping energy flowing to productive sectors.
Higher volumes would widen the share of power generation that runs on gas. The discussions also touched on broader development cooperation between the two sides.
Five Million Beneficiaries
Officials said the existing program has reached about 5 million people, in part by improving the efficiency of the electrical network. The gas is used to feed power generation.
The talks weighed the direct effect of those supplies on living conditions and on essential services, including schools, hospitals, and government institutions, the sectors that depend most on a steady current.
Easing the Fuel Bill
By substituting for more expensive fuels, the supply is intended to cut reliance on fuel oil and diesel while lowering operating costs across the system. Cheaper inputs to power generation mean smaller recurring outlays for the operators that run it.
Awaiting a Decision
The outcome of the request was not announced, and the renewal remains subject to agreement between the two sides. A two-year horizon, if approved, would give planners more predictability over electricity supply. Until any new terms are agreed, the supply continues under the existing arrangement.