Libya plans to increase gas exports to Europe before 2030

Massoud Suleman, Chairman of the National Oil Corporation said that Libya will increase its natural gas production in the next five to ten years to?have a greater supply available to export to Europe before early 2030.

Suleman, who spoke at the LNG2026 Conference in Qatar, told the delegates that the country intends to increase its gas production by nearly 1 billion standard cubic feet per day and begin drilling for shale in the second half of this year.

Foreign investors are wary about investing in OPEC-member Libya. The country has been?in a'state of chaos? since the 2011 overthrow of Muammar Gaddafi. Oilfields have been shut down by disputes between rival armed factions over oil revenue.

He said that Libya's 80 trillion cubic feet (80 trillion cubic meters) of gas resources are split between conventional and unconventional sources.

Suleman stated that the country exports a negligible amount of natural gas via the Greenstream pipeline.

Libya will also announce the winners of their latest 'bid round' on February 11, he said. Suleman stated that 37 companies came from Asia, Europe, North America and the Middle East, as well as Africa. He said that these included Chevron and ConocoPhillips, as well as Eni, ConocoPhillips, and a consortium including Repsol.

Suleman added that NOC may also announce a second bid round in this year.

Libya last month

signed ?a 25-year oil development deal

TotalEnergies & ConocoPhillips

(source: Reuters)