Minister of Oil and Gas of the Government of National Unity, Mohamed Aoun, has confirmed that Libyan gas exports to Europe via Italy through the Green Stream line has not stopped.
However, he added that increasing Libyan gas export quantities is not in the offing in the current stage, but rather it can be considered for the long term, i.e after 5 years.
The Minister has revealed that his country has developed a short-term strategic plan for the oil and gas sector, aimed at raising its oil production to two million barrels per day, by developing new discovered fields and raising the production capacity of the existing fields.
He also stated that the strategy includes development of the infrastructure that was damaged due to the events that the Libyan state went through.
Aoun further explained, "International companies operating in Libyan oil production will be instrumental in achieving these goals, as investment projects are joint venture between Libya and foreign partners."
The NOC plan set to overcome obstacles and challenges facing the sector in Libya and focuses on many issues, including structuring the oil and gas sector and its subordinate institutions, Aoun added.
Regarding investment opportunities in the Libyan oil sector and raising domestic production, Aoun stressed that the government "is dedicated itself to create an appropriate and attractive investment climate for foreign investors."
Aoun was speaking in press statements on the sidelines of his participation in the activities of the two-day “OPEC” 8th International Seminar, which kicked off on Wednesday in the Austrian capital, Vienna, under the theme, ‘Towards a Sustainable and Inclusive Energy Transition’.