The Libya Energy & Economy Summit (LEES) 2025 began in Libya's capital city Tripoli, on Saturday with the participation of key stakeholders from the global energy and finance sectors.
Organized by Africa-focused investment platform Energy Capital & Power, the event is being held in official partnership with Libya's Prime Ministry, the Oil and Gas Ministry, the National Oil Corporation, and the Renewable Energy Authority.
The two-day summit will discuss projects and investment opportunities expected to transform Libya's energy sector.
Policymakers, representatives from public and financial institutions, investors, and business leaders from various countries will attend the event, which is anticipated to result in the signing of international agreements.
- Reviving Libya's energy sector to be in spotlight
A member of the Organization of the Petroleum Exporting Countries (OPEC), Libya ranks among the top 10 countries globally in proven oil reserves, with approximately 48.4 billion barrels, according to OPEC data. The country also boasts significant natural gas reserves, estimated at around 1.5 trillion cubic meters. Libya also has vast potential in renewable energy.
Recent years have seen the launch of several projects and international partnerships in oil, gas, and renewable energy, underscoring the country’s ambition to drive a comprehensive energy transformation.
Discussions at the summit will address a broad range of topics, including energy security, sustainability, investment opportunities, and renewable energy strategies, as Libya seeks to position itself as a key player in the global energy market.
- This year's summit takes sharp focus on investment
Energy Capital & Power Chief Executive Officer (CEO) James Chester described the primary goals of the summit as to promote Libya's energy sector while fostering partnerships and investment and at the same time drive economic growth and address energy challenges.
'The summit will showcase Libya's energy potential, opportunities, and challenges to international investors, corporations, and governments while facilitating dialogue and business deals between Libyan stakeholders and international corporations,' Chester said.
He highlighted that compared to previous editions, the LEES 2025 has an increased focus on international participation, with a higher turnout of international corporations and investors, as well as governments in attendance.
'This year's summit takes a sharp focus on investment, highlighted by the participation of industry giants like Eni and TotalEnergies, which successfully launched production in Libya last year,' Chester said.
He also added that the event will also explore the growing presence of international oil companies in Libya, a geographically strategic move.
'Our flagship panel will delve into the details of this trend, while a special panel discussion will shine a spotlight on the vital role of women in the energy sector,' he explained.
'Libya's energy market is ripe with opportunity,' Chester said and added: 'With a strong slate of international and local companies participating, we expect to see new partnerships and deals forged.'
The country aims to increase production oil production to 2 million barrels per day in the next five years while scaling-up gas production and exports.
According to Chester, to achieve this, the country requires significant investment and companies are already answering the call.
'Major operators have resumed operations while the government is preparing to launch an international licensing round. Project developers are seeking partners and opportunities are emerging for technology and renewable energy firms. As such, LEES offers a strategic platform for companies to sign deals and we expect a wealth of positive developments to come out of this year's event,' he said.
By Firdevs Yuksel and Sibel Morrow in Tripoli
Anadolu Agency
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