The Libyan National Oil Corporation (NOC) announced yesterday the resumption of the implementation of an agreement signed in 2008 with the Italian energy company ENI to compensate for an expected shortage in Libya's natural gas production in 2025. According to the statement: "In 2013, the commercial advertisement for the project was issued, but for various reasons, it has not been implemented until today." Thus, NOC "held a meeting last August 24 with ENI's administration, during which it demanded the implementation of the project. OPINION: What has the EU done for Libya so far? "The achieved revenue by Libya from this investment ranges between $13 and $18 billion, after restoring capital and operating expenses," NOC said.

Source: Libya Today December 22, 2022 13:50 UTC