The head of the NOC added that he is going to sign an agreement with the Italian Eni for the exploration and extraction of hydrocarbons in plots in the Mediterranean as well as in western Libya.
An unexpected, apparently, development concerning the energy interconnection of Greece and Egypt with Libya, and likely to provoke Ankara’s reactions, became known in the past hours. The head of NOC (National Oil Company) Farhat Omar Beghdara reported that the company is considering submitting a proposal for two gas pipelines with Greece and Egypt.
The two lines under consideration will connect Greece (Crete) and the Egyptian city of Damietta (Damietta).
In an interview with CNBC Arabia, on the sidelines of the ADIPEC conference in Abu Dhabi, the head of the National Oil Corporation in Libya, spoke of a pipeline that will be connected to Greece, and another line to Damietta, in addition to the existing line which connects Libya with Italy.
He said Libya’s current production is 3 trillion cubic feet of natural gas, and most of it is consumed locally, noting that Libya’s natural gas reserves are currently estimated at about 8 trillion cubic feet.
Libya’s National Oil Corporation is examining a project proposal of creating two gas pipelines to connect with #Greece and the Egyptian city of #DamiettaNOC chief Farhat Bengdara tells CNBC Arabia
The #Libya Update pic.twitter.com/JM9LoJ3B6i
— The Libya Update (@TheLibyaUpdate) November 1, 2022
The head of the NOC added that he is going to sign an agreement with Italy’s Eni for investments in the order of 8.6 billion dollars in the exploration and extraction of hydrocarbons in plots in the Mediterranean as well as in western Libya.
On the other hand, he added that his country’s oil production will reach 3 million barrels in the next two to three years, compared to the current level of 102 million barrels, up from 600,000 barrels last June.
Finally, the head of the National Oil Company of Libya did not rule out the inclusion of his country in the Eastern Mediterranean Natural Gas Forum (EMGF), in which Turkey does not participate.
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