The seventh summit of heads of state and government of the Gas Exporting Countries Forum was launched in Algiers, on Saturday, with the participation of President of the Presidential Council Mohammed Menfi.
Menfi's participation as a representative of Libya comes at the invitation of Algerian President Abdelmadjid Tebboune. He said in his speech during the forum's activities that the political and security progress in Libya has led to the empowerment of international companies working in the field of exploration, production and development activities.
“Preparations are being made to offer a new round of exploration licenses for oil and gas during 2024 in the onshore and marine areas of Libya in order to enhance production in Libya", Menfi added, saying: “We affirm our commitment to the goals of the forum and plan to launch major projects to increase the production capacity of natural gas."
He said Libya was seeking, with Africa and the Western Mediterranean, to achieve cooperation that enables producers in the African continent to access global and European markets, given the geographical location of Libya and closeness to European markets.
Menfi stressed the need to pay attention to using natural gas as a pivotal source of clean energy, to contribute to facing the challenges of climate change and mitigating its effects in the largest possible number of countries.
The summit aims to crystallize a common vision for the participating countries, to ensure coordination and cooperation, and to enhance their ability to plan and manage their shared gas resources, to support the sovereign rights of member states and contribute to sustainable development, according to a brief statement issued by the Presidential Council.
