Libya plans to increase its natural gas production over the next five years in order to boost exports to Europe by early 2030, according to National Oil Corporation Chairman Masoud Suleiman. The move aims to capitalize on the country's large reserves and strengthen its position in the global energy market.Speaking at the LNG2026 conference held in Doha, Suleiman said Libya plans to raise gas production to around one billion standard cubic feet per day, and to begin shale gas exploration operations in the second half of this year.He explained that Libya holds an estimated 80 trillion cubic feet of gas reserves, including both conventional and unconventional resources, noting that current exports remain limited and are transported via the Greenstream pipeline linking Libya to Italy.These plans as foreign investors remain cautious about investing in Libya, an OPEC member, due to the ongoing instability the country has experienced since 2011. Conflicts between rival factions over oil revenues have repeatedly disrupted production and led to the shutdown of fields.In a related development, Suleiman revealed that the National Oil Corporation will announce on February 11 the companies selected in the latest licensing round, which attracted around 37 companies from Asia, Europe, North America, the Middle East, and Africa, including major firms such as Chevron, Eni, ConocoPhillips, and a consortium led by Repsol.He added that the corporation plans to launch a new licensing round later this year, which may include unconventional resources or marginal fields, as part of efforts to expand investment and increase production.Last month, Libya signed a 25-year oil development agreement with TotalEnergies and ConocoPhillips, a move seen as a sign of renewed international interest in Libya's energy sector. (ICE TRIPOLI)

Fonte notizia: libya observer