Libya Developing Intent to Be Key European Gas Supplier

A swathe of recent announcements has shown Libya’s intend to be a significant player in the East Med gas market – a key development area for EU gas supplies as the bloc moves away from Russian flows. The Libyan NOC announced plans this week to develop a Mediterranean gas field with Eni and BP that is touted as larger than Egypt’s giant Zhor.

• The NOC also said this week that Eni intends to invest $8bn developing natural gas fields in western Libya.
• Libya intends to export gas to Europe via existing pipeline links to Italy and plans for a new link to Greece.
• Earlier this year, the European Union's spokesperson for the Middle East and North Africa Luis Miguel Bueno said that Europe will rely heavily on Libya in the coming period to diversify its sources of gas and energy, amid the dispute between the union and Russia over the war crisis against Ukraine.
• NOC chairman Farhat Bengdara said the company is studying the idea of another gas pipeline to Damietta LNG plant in Egypt, in addition to the potential Greek link.
• Libya is currently in the final stages of a deal with ENI to develop offshore gas fields to increase domestic gas production and export capacities.