ConocoPhillips is set to become the first major US energy company to sign a contract with Syria’s new government, partnering with Syria’s state-owned petroleum company and Novaterra Energy to develop existing gas fields and explore new ones. The deal, expected this week, aims to boost Syria’s gas production by 4–5 million cubic metres per day within a year, helping ease chronic power shortages. Syria’s gas output has fallen by two-thirds since 2011, while the country needs about 18 million cubic metres daily to meet electricity demand. Source: FT