The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah has reiterated the NOC’s new strategy that focuses on gas production and increasing Libya's gas rates to respond to the increasing demand for gas in the European markets, knowing that there is western sanctions on the Russian energy sector.
Libya’s gas production reached 853.1 feet in 2018, which was the last official data by the Central Bank of Libya.
Sanallah’s optimism was refuted by the Minister of Oil and Gas, Mohammed Oun, who said Libya wouldn’t be able to make up for the Russian oil exported to Europe now, adding that this could happen in 5 to 7 years, according to what Oun said to Russian Novosti news agency.
Economy
