馃嚤馃嚲LibyaNorth Africa
NOC Chairman calls for investment in Libya's gas industry to meet domestic needs and export surplus
via Libya Herald2 min read
Masoud Suleiman, Chairman of the National Oil Corporation NOC, emphasized the NOC's vision for gas industry development, focusing on increased investment and new projects to secure domestic market supplies and meet energy demands. Speaking at a workshop on the NOC's Strategic Vision for Natural Gas Development Projects in Libya, he urged international companies to invest and form partnerships for onshore and offshore exploration. These efforts aim to convert resources into proven reserves, create an attractive investment climate, facilitate knowledge transfer, and open opportunities for the local private sector and workforce. Suleiman also reaffirmed the NOC's commitment to reducing emissions, highlighting efforts to cut gas flaring and collaborate with international partners to achieve a "near-zero flaring" target. The workshop, held after a successful first edition, reviewed NOC plans for managing gas reserves estimated at 53 trillion cubic feet. The event in Tripoli was attended by the Minister of Oil and Gas, Khalifa Abdel Sadig, NOC Board members, oil company chairpersons, international company representatives, and experts. The conference's timing followed a power blackout, partly attributed to insufficient gas supplies to power stations, which sparked public debate about prioritizing domestic gas supply over exports. Suleiman acknowledged this public sentiment by stressing the export of only Libya's gas surplus.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Libya Herald.
The United Kingdom has updated its travel advisory for the Benghazi area, including the cities of Al-Bayda and Derna, and the Jebel Akhdar region. The risk assessment has been downgraded from red to amber, reflecting updated security conditions. This change was announced today by the UK government.
The National Development Agency NDA announced the approval of an industrial urban plan for "Zone 7," located northwest of Sirte. This area has been designated as an industrial zone, following coordination with the Urban Planning Authority and the Council of Ministers, which issued Resolution No. 163 of 2026. The NDA stated that this initiative aims to enhance industrial and commercial investment opportunities, create a comprehensive investment environment based on modern urban plans, and address the Central Region's need for organized industrial zones equipped to modern standards. This decision is expected to support the comprehensive development process in Sirte and the Central Region, foster a favorable climate for attracting industrial and commercial investments, and create new opportunities for investors, thereby stimulating economic activity, generating jobs, and supporting sustainable development in the region.
The Libyan Export Development Authority LEDA head, Mohamed Al-Hangari, met with Hicham El-Rafqi, Deputy Consul General of Morocco, to discuss strengthening cooperation in export development and advancing economic and trade relations between Libya and Morocco. The meeting focused on mechanisms to activate cooperation and foster communication between public and private sector institutions to boost trade, open new avenues for Libyan products, and increase trade and investment exchanges. They also discussed implementing cooperation initiatives from a recently signed Memorandum of Understanding between LEDA and the Moroccan Agency for Investment and Export Development, aimed at supporting non-oil export development and strengthening the presence of Libyan products in regional and international markets. Both parties emphasized continued coordination to serve economic interests, achieve development goals, and reinforce the economic partnership.