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Chairman of the National Oil Corporation: Investing in the development of the gas industry is a priority to secure the needs of the local market and export the surplus

Pulbished on:

Tripoli, July 21, 2026 (LANA) – The Chairman of the Board of Directors of the National Oil Corporation (NOC), Masoud Suleiman, reiterated the call for investment in gas industry development projects in Libya. He emphasized that the NOC's vision is based on intensifying investments and establishing vital new projects to secure the growing energy needs of the local market, while working to export any surplus to global markets.

During the opening of the second edition of the technical workshop dedicated to discussing the "National Oil Corporation's Strategic Vision for Natural Gas Development Projects in Libya," Suleiman stressed the importance of building partnerships with international companies to enhance onshore and offshore exploration activities and convert resources into proven reserves. This, he explained, would contribute to creating an attractive investment climate, transferring expertise, and opening new horizons for the local private sector and the national workforce.

He emphasized the NOC's commitment to international agreements on emissions reduction, noting the success of operational efforts in reducing gas flaring. He added that cooperation with international partners continues to achieve the goal of near-zero gas flaring, serving national interests and mutual benefit.

He explained that organizing the second edition of the workshop comes as a continuation of the success of the first and in implementation of the experts' recommendations, with the aim of reviewing the corporation's plans for managing Libya's gas reserves, estimated at approximately 53 trillion cubic feet.

The workshop commenced yesterday, Monday, at the Corinthia Hotel in Tripoli, with the participation of the Minister of Oil and Gas, Dr. Khalifa Abdul Sadiq, members of the National Oil Corporation's Board of Directors, chairmen of oil company boards, representatives of international companies, directors of relevant departments within the corporation, and a select group of international experts.

...(LANA)...