Syria signs $7 billion energy deal with Qatar, US, Turkey

In a significant step toward rebuilding its war-torn infrastructure, Syria signed a USD 7 billion energy agreement on Thursday with a consortium of Qatari, Turkish, and American companies.

The deal, formalized at the presidential palace in Damascus, is designed to produce 5,000 megawatts of electricity, helping alleviate the country’s chronic power shortages.

The signing ceremony was attended by President Ahmed al-Sharaa and US ambassador Thomas Barrack, reflecting a new level of international cooperation in Syria’s reconstruction efforts.

Calling it a “historic moment” and a “turning point,” Syrian Energy Minister Mohammad al-Bashir emphasized the project’s potential to dramatically improve daily life. “This marks the beginning of a serious recovery for our energy sector,” he said.

The multinational consortium behind the project is led by Qatar’s UCC Concession Investments and includes Turkey’s Kalyon GES Enerji Yatirimlari and Cengiz Enerji, as well as Power International USA.

Years of conflict have devastated Syria’s power infrastructure, with many areas facing up to 20 hours of electricity cuts each day. The new agreement will fund the construction of four gas-powered plants in central and eastern Syria, in addition to a 1,000-megawatt solar facility in the southern region. The energy minister confirmed that US and European technology will be used in the development of these facilities.

US ambassador Thomas Barrack stated that American sanctions on Syria had been lifted without conditions, and pledged long-term support for the country's recovery. He added that US President Donald Trump had expressed “unceasing commitment” to transforming Syria’s borders into “a tapestry of commerce and cooperation.”

UCC CEO Ramez al-Khayyat said the initiative is expected to create more than 50,000 direct jobs and a further 250,000 indirect employment opportunities.

The deal follows a recent announcement by Turkish Energy Minister Alparslan Bayraktar that Turkey will begin supplying Syria with two billion cubic meters of natural gas annually, capable of generating roughly 1,300 megawatts of power.

Syria has accelerated efforts to attract foreign investment following signals from both the US and the EU indicating the removal of long-standing sanctions. In March, Qatar began funding gas deliveries to Syria via Jordan to help stabilize the country’s power supply.