The Chairman of Libya’s National Oil Corporation (NOC), Masoud Suleiman, has formally proposed the establishment of a new company to develop a major gas field and avert a looming energy crisis.
In a letter to Prime Minister, Abdulhamid Dbaiba, Suleiman warned that without new gas supplies by the end of 2026, Libya faces severe power cuts or a massive, costly shift to liquid fuels that would strain the national budget.
The proposal involves creating “Jalyana,” a Benghazi-based company, to develop the gas-rich NC-7 area in partnership with an international consortium including Italy’s Eni. This project aims to rapidly boost domestic gas production for power generation and industry, reducing reliance on expensive diesel.
Key strategic goals include securing local energy self-sufficiency, preserving gas volumes for export to Italy to avoid financial penalties, and establishing a new gas production hub to process future output from other fields.