Libya Prepares to Revive Multi-Billion Dollar Gas Megaproject Amid Power Crisis
Libya’s National Oil Corporation is moving forward with plans to resurrect a massive natural gas development project aimed at addressing the country’s chronic electricity shortages, potentially becoming one of the biggest new energy projects in the nation. The state-run energy company wants its Arabian Gulf Oil subsidiary to develop discovered gas deposits in the NC-7 block in western Libya, working alongside international consortium partners including Eni, TotalEnergies, Abu Dhabi National Oil Company, and Turkish Petroleum Corporation.
The ambitious project would be overseen by a new company called Jelyana, strategically headquartered in Benghazi in the east, a move designed to benefit the rival eastern administration that has long complained about unfair distribution of energy revenues. This arrangement could help ease tensions between Libya’s western government in Tripoli and the eastern administration controlled by military commander Khalifa Haftar.
With Libya’s gas resources estimated at 53 trillion cubic feet, the NC-7 project is crucial for meeting both export commitments and rising domestic demand. NOC Chairman Masoud Suleman indicated that tapping new gas sources by late 2026 is essential to avoid costly fuel imports and meet industrial power demands in the conflict-torn nation.
Source: worldoil.com
