Gas investment becomes Libya’s next priority

Libya is putting natural gas at the centre of its energy strategy as it seeks to meet rising domestic demand and eventually export surplus production, as reported by the Libyan News Agency on July 21st.

Massoud Suleiman, chairman of the National Oil Corporation (NOC), renewed the call for investment in gas development during the opening of a technical workshop in Tripoli on the NOC’s strategic vision for natural gas projects.

The message reflects a fundamental pressure on Libya’s energy system, the country remains heavily dependent on oil revenues but domestic electricity demand has increased, while repeated grid problems have exposed the cost of weak infrastructure and underdeveloped gas supply.

Suleiman said the NOC’s strategy is based on intensifying investment and launching new projects that can secure the local market’s growing energy needs, he also linked gas development to the possibility of exporting surplus volumes to international markets.

The NOC is also seeking stronger partnerships with international companies, Suleiman said cooperation with global firms would support exploration both onshore and offshore, help convert resources into proven reserves and create a more attractive investment climate.

Libya’s gas reserves are estimated at around 53 trillion cubic feet, giving the sector long-term potential if political stability, financing and infrastructure can be aligned. The challenge is that Libya’s energy sector still operates inside a divided political environment, where investment decisions are often affected by disputes over institutions, security and public revenue.

The NOC also linked gas development to environmental commitments as Suleiman pointed to efforts to reduce gas flaring and said the corporation would continue cooperation with international partners to move toward near zero flaring.

Libya’s energy future cannot rely only on crude oil, gas development offers a way to strengthen electricity supply, attract foreign investment and reduce waste but turning that potential into production will require stable institutions, reliable contracts and a level of security that investors can trust.

Libyan News Agency, maghrebi.org