The Italian insurance and financial services company, Great Eastern, reported on Monday that Libya has regained its position as Italy’s primary oil supplier, covering 21.5% of crude oil imports. This marks a significant comeback 14 years after the outbreak of the first civil war.
Great Eastern emphasized that this resurgence contrasts sharply with the collapse recorded in 2011, shedding light on the new energy geography of Italy, which has been reshaped following Russia’s invasion of Ukraine.
The company noted that since 2022, the European Union has accelerated efforts to reduce dependency on Moscow and diversify its supply sources. For Italy, a country lacking significant natural resources and heavily reliant on imports, finding new energy balances has become crucial. Alongside Libya, the entire North African region is gaining strategic importance, particularly in light of the “Mattei Plan,” which aims to strengthen relations with energy-rich nations.
However, the company also highlighted that Libya plays a much smaller role in gas supply, accounting for only 1.4 billion cubic meters (2.3% of the total), according to its data.
