Libya Seeks Foreign Investment to Unlock Vast Natural Gas Reserves

Libya's National Oil Corporation (NOC) is urging increased investment in natural gas development projects to unlock the country's vast gas potential and strengthen its energy security. The NOC chairman, Masoud Suleman, emphasized the importance of partnerships with international energy companies to accelerate both onshore and offshore exploration.

The corporation aims to transform existing discoveries into commercially viable proven reserves while bringing advanced technologies and technical expertise to Libya's energy sector. Expanding cooperation with international partners would also create opportunities for the private sector, strengthen local supply chains, and generate employment and skills development for the Libyan workforce.

Libya possesses one of Africa's largest proven natural gas reserves, estimated at around 53 trillion cubic feet. The NOC has been working to expand gas production, modernize infrastructure, and attract foreign investment amid growing domestic demand for electricity and cleaner-burning fuels.