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Home » Libyan MP: Eni energy deal will fail due to pure infrastructure, national opposition

Libyan MP: Eni energy deal will fail due to pure infrastructure, national opposition

Monday, February 13, 2023 Oil & Gas 2 Mins Read
Libyan MP: Eni energy deal will fail due to pure infrastructure, national opposition

Libyan Parliament Member, Asmahan Beloun, said the energy deal that the National Oil Corporation (NOC) signed with the Italian Eni company would fail due to poor infrastructure and national opposition.

“I do not rule out that the Libyan courts suspend Eni agreement in the near future,” Beloun added in press statements.

“Ukrainian war prompted Europe to take advantage of Libya to secure oil and gas supplies,” she commented.

The Oil Ministry of the Government of National Unity (GNU) claimed on Sunday that the 8-billion-dollar deal between Italy’s Eni and Libya’s NOC should worth than what the latter announced.

In a statement released via its Facebook page, the ministry said that investment and development projects for Block NC-41 and other areas are valued at more than $27 billion as per 2008 agreement between Libya and Italy.

“The agreement in 2008  contained multiple projects with a value exceeding what was announced by the National Oil Corporation,” reads the ministry’s statement .

The ministry stated that its claim is based on what described as “confirmed documentary sources,” but it did not disclose these documents.

In late January of this year, the NOC and Eni signed in Tripoli a gas deal worth $8 billion — the largest single investment in Libya’s energy sector in more than two decades.

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