Mohamed Aoun, the Oil and Gas Minister of Libya’s temporary National Unity Government, announced that the country possesses substantial quantities of shale fuel in yet-to-be-explored fields and locations.
He revealed that over 30% of Libya’s territory remains unexplored for such resources.
In his address at the Libya Energy and Economy Summit held in Tripoli this Saturday, Aoun stated that Libya has vast amounts of oil and shale gas.
“A committee has begun to undertake the task of exploration and has reached some findings. We hope to start an actual drilling trial in one of the wells to confirm these results in the coming days,” he explained.
Aoun emphasized the ongoing need for fossil fuels, despite the global shift towards new or alternative energy sources. He referenced OPEC reports confirming that the demand for fossil fuels will continue and increase until 2045.
He also pointed out the importance of addressing the environmental impacts of fossil fuels while parallelly developing alternative energies, suggesting this as the optimal solution.
Aoun highlighted the necessity of relying on gas in the transition to renewable energy.
Additionally, Aoun noted that the African continent possesses enormous gas quantities, evidenced by the projects to construct gas pipelines from Nigeria to Europe.
This highlights the vast gas reserves in Nigeria, showcasing Africa’s significant role in the global energy landscape.
