Libya seeks to expand oil and gas exports to global markets

Libya has the potential to increase its oil and gas exports and strengthen its role as a supplier to global markets, according to Ali Juma Hassan Fadil, Libya’s ambassador to Iran. Speaking at the IX North Caucasus International Forum, Fadil noted that Libya’s proximity to European markets provides significant opportunities, though realizing this potential requires stable production and investment conditions.

To attract investors, Fadil emphasized the need for protected energy infrastructure, production stability, facility modernization, and a more predictable legal and contractual environment.

Data from the Libyan Audit Bureau for the first seven months of 2026 shows the country produced approximately 287.9 million barrels of crude oil, with exports totaling roughly 193.4 million barrels valued at approximately $18.46 billion.

In the natural gas sector, the National Oil Corporation reported production of 73,323.7 million cubic feet in June 2026. Additionally, the Italian company Eni and the National Oil Corporation have launched the ‘Sabratha’ gas compression project at the Bahr Essalam field. This project is expected to provide an additional 800 million cubic meters of gas annually for domestic electricity production and for export to Italy via the Greenstream pipeline.