Italy’s €8 Billion Libya Investment Reshapes European Energy Security
Italy is positioning itself as a key player in Euro-African energy diplomacy through energy giant Eni’s €8 billion investment in Libya, backed by the ambitious Mattei Plan. This strategic investment marks Italy’s commitment to strengthening economic ties with North Africa as Europe seeks to diversify from Russian gas supplies.
The investment targets both offshore and onshore development projects, including expansion of gas output at the Bouri and Bahr Essalam fields. Through Mellitah Oil & Gas, a joint venture with Libya’s National Oil Corporation, Eni is leading the Bouri Gas Utilization Project, scheduled to export gas to Europe via the Greenstream pipeline by 2026.
The Mattei Plan represents Italy’s strategic framework for reimagining its relationship with Africa, shifting from aid-based dependency to partnership-based development. Prime Minister Giorgia Meloni has positioned this plan as the cornerstone of a new Mediterranean energy strategy that prioritizes economic cooperation, regional stability, and migration management.
Libya, with an estimated 48.4 billion barrels of proven oil reserves, serves as a vital supplier to Italy. The Greenstream pipeline, spanning 520km from Libyan fields to Sicily, has a transport capacity of up to 11 billion cubic meters of gas annually.
With Eni as the largest foreign operator in Libya, responsible for nearly 80% of the country’s gas exports, Italy is positioned to play a decisive role in shaping regional energy flows and reinforcing supply to European markets.
Source: energycapitalpower.com
