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Gas, Eni signs historic US$8 billion deal in Libya. Meloni: “We will help African countries to grow” www.theexchange.afriica

Italy, Libya sign US$8 billion gas deal as Meloni visits Libya

Industry and Trade

Italy’s Prime Minister, Giorgia Meloni, recently visited Libya to meet with the country’s Prime Minister Abdulhamid Dbeibah. The trip was an opportunity to address the two most pressing issues facing Italy and the European Union: energy and migration. During her visit, the largest single investment in Libya’s energy sector in over 20 years was signed, worth US$8 billion.

ENI CEO, Claudio Descalzi, signed the deal with Libya’s National Oil Corporation (NOC) to develop two offshore fields in Block NC-41, north of Libya. The deal is estimated to start pumping gas by 2026 and reach 750 million cubic feet per day. Meloni called the deal “significant and historic” and said it would help secure Europe’s energy sources.

Eni said it was the first major project in Libya since early 2000 and involved the development of two offshore gas fields.

The project includes two gas fields, called “Structure A” and “Structure E” …