Italy and Libya’s National Oil Corporation (NOC) signed an $8 billion gas production deal on Saturday aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country.
The deal, signed during a visit to Tripoli by Italy’s Prime Minister Giorgia Meloni, aims to increase gas output for the Libyan domestic market as well as exports, through the development of two offshore gas fields.
Output will begin in 2026 and reach a plateau of 750 million cubic feet per day, Eni said in a statement.
“This agreement will enable important investments in Libya’s energy sector.—REUTERS
