Libya reviews possibility of extending new gas pipeline to Italy

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Libya reviews possibility of extending new gas pipeline to Italy

October 08, 2022 - 01:17
Written by: LibyaMohammed

The Minister of Oil and Gas, Mohammed Aoun, has stated that a new gas pipeline parallel to the existing one, could be extended to Italy, within four to six months, noting that Libya exports about 250 to 300 million cubic feet of gas to Italy per day.

"There are huge gas discoveries estimated at trillions of cubic feet of gas, but their development will take time," Aoun told Bloomberg on the sidelines of the "Africa Oil Week" exhibition.

Regarding the decision of OPEC+ to reduce oil production, Aoun said, “we feel that this decision is wise, it will stabilize the market, and will not be subject to strong rises and falls.”