The North African country of Libya will host the second Energy and Economic Summit between Jan. 13 and 14 to bring together governments, investors and private sector representatives with the aim of showcasing Libya’s thriving energy sector.
Themed A New Libya: Built on Energy, Energy Capital & Power (ECP) organized the summit in collaboration with prominent entities, including the Libyan Prime Ministry, the Ministry of Oil and Gas, the National Oil Corporation (NOC) and the Renewable Energy Authority of Libya. It aims to create a platform for vital discussions on the future of Libya's energy sector and its economic landscape.
The summit will also bring together international and local policymakers, industry leaders, and investors. Over the course of two days, participants will engage in in-depth discussions and strategic networking, focusing on leveraging Libya’s rich energy resources and attracting global investment.
At the debut summit in 2021, multiple agreements were signed with TotalEnergies to develop solar projects in the country. Similar major announcements are expected this year.
Libya, with its proven oil reserves among the largest in Africa, has been an important player in the global oil market. Facing challenges such as political instability and infrastructure constraints since the 2010 Arab Spring uprisings, the country now aims to stabilize and expand oil and gas output while also exploring renewable energy potential.
Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), offers vast investment opportunities, not only for the European and African energy sectors but also as a potential key supplier for EU countries.
By Sibel Morrow and Firdevs Yuksel
Anadolu Agency
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