Trump has a plan to develop Syria's oil and gas sector: US businessman

Jonathan Bass, CEO of the American liquefied natural gas company Argent, revealed a strategic plan to develop the energy sector in Syria, which is currently on the table with US President Donald Trump. He noted that the American and Syrian sides are already in discussions about it.

Bass told CNBC Arabia that the plan includes five practical phases, including the launch of SyriUS Energy as a Syrian-American venture to rebuild the oil and gas sector with the participation of major companies, and the establishment of a legal entity listed on the American stock exchange, in which a Syrian sovereign energy fund will hold a 30% stake.

Bass explained that the first phase focuses on restoring security and conducting a comprehensive infrastructure assessment, starting with securing key oil fields such as Al-Omar, Al-Taym, Al-Tanak, and Al-Hasakah, and developing a plan for other fields.

He added that the second phase focuses on stabilizing local supplies by rehabilitating the Homs and Baniyas refineries and the main pipeline networks, while working to expand access to natural gas for domestic and energy uses in an integrated and sustainable manner.

The third phase aims to establish a new oil entity listed on the US Stock Exchange and launch a new national energy company called "SyriUS Energy." This company will work to develop national assets, coordinate foreign expertise in accordance with national interests, and establish strategic partnerships with international oil companies.

In the fourth phase, Bass added that the importance of governance and transparency will be highlighted by establishing a US-listed entity with a 30% stake in a sovereign energy fund to manage oil revenues transparently, along with digitizing the Ministry of Oil's systems, implementing anti-corruption measures, and linking oil spending to improving infrastructure and basic public services.

As for the fifth phase, Bass indicated that it will lay the foundation for expanding legal exports through Iraq and rehabilitated coastal ports, and activating regional energy integration with neighboring countries.

It's worth noting that Jonathan Bass previously met with President Ahmed al-Sharaa in Damascus earlier this month, and is believed to have acted as a mediator to bridge the gap between the US and Syrian administrations, which resulted in al-Sharaa meeting with President Trump during his visit to Riyadh in mid-month.