Energy Capital Power: Libya and Qatar Explore Cooperation in Gas and Renewable Energy Sectors

The Energy Capital Power website reported today, Tuesday, that Libya, which holds approximately 52 trillion cubic feet of natural gas reserves, is aiming to capitalize on these resources, targeting the production of 4 billion cubic feet of gas per day over the next three to five years with the support of new exploration initiatives.

According to the website, Sirte Oil Company announced a significant gas discovery southeast of the Al-Lahiq field, with the potential to produce approximately 16.8 million cubic feet per day. Libya is also working on developing major gas projects to enhance both domestic consumption and export capacities, including the A&E structures project led by Mellitah Oil and Gas, a joint venture between Italy’s Eni and the National Oil Corporation, which aims to produce 750 million cubic feet per day by 2026.

The site also mentioned that Qatar, being one of the largest producers of liquefied natural gas (LNG) in the world and representing 20% of global supplies, brings extensive expertise to the gas industry. By leveraging Qatari expertise, Libya could adopt the best practices in gas extraction, processing, and export efficiently, thereby enhancing the overall capacity of the sector. Qatar’s substantial investments in oil and gas technology could also provide technical support and consulting services to the National Oil Corporation, including the implementation of advanced digital tools and the deployment of sophisticated monitoring systems.

Collaborative Investments in Renewable Energy:

The site highlighted that both countries are committed to diversifying their energy portfolios and reducing dependence on fossil fuels. Qatar’s national renewable energy strategy aims to generate 4 gigawatts of photovoltaic solar power, increasing the share of renewable energy in the energy mix from 5% to 18% by 2030, alongside the development of 200 megawatts of additional diversified solar power systems.

The website further noted that under its renewable energy strategic plan, Libya aims to achieve a 10% share from renewable energy sources in its energy mix by 2025 and 30% by 2030. The General Electricity Company of Libya is currently developing the Sadda photovoltaic solar power station with a capacity of 500 megawatts in partnership with Total Energies, set to become the country’s largest solar project, utilizing advanced technology and up to 1.2 million solar panels.

With a goal of 4 gigawatts of renewable energy by 2035, Libya presents attractive opportunities and strong government support for cooperation with Qatar. The recent meeting opened the door for large-scale renewable energy initiatives, and enhanced collaboration with Qatar could facilitate knowledge exchange, financial support, and technology transfer, contributing to economic stability and reducing exposure to global oil price fluctuations.

The site confirmed that the Libya Energy and Economy Summit will be held in Tripoli on January 18-19, 2025, gathering industry leaders, investors, and policymakers to foster dialogue, secure investments, and support the growth of Libya’s energy and infrastructure sectors.

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