Italy will host the second “Libya Energy and Economy Summit” on September 23, featuring participation from numerous companies affiliated with the National Oil Corporation and leading private sector companies from both countries.
According to the Italian news agency “Nova,” the summit will discuss the prospects of exploration and development, identifying Libya’s role in the global energy landscape, and exploring potential partnerships and investments in the energy generation, transmission, and distribution sectors. Special attention will be paid to increasing energy production from renewable sources and cooperation with Europe.
The agency added that the third edition of the summit will return to Tripoli in 2025, aiming to bring together global investors, project developers, and financiers with local stakeholders in key sectors of the Libyan economy.
The summit seeks to attract international investments in the oil and gas sectors and renewable energy projects like solar energy, serving as a platform to explore new partnership developments and improve energy infrastructure in Libya.
Among the projects to be discussed is the Southern Refinery Project in Fezzan, which aims to address the local fuel crisis and stabilize oil production. Discussions will also cover renewable energy projects, including a 500-megawatt solar energy project in collaboration with Malta to export clean energy to Europe.
These projects are part of an ambitious plan to reduce dependency on fossil fuels and transition to sustainable energy.
The organizers of the summit believe it will focus on exploring practical solutions to overcome obstacles with the goal of increasing private investments and developing partnerships between Libyan and international companies, enhancing Libya’s regional and global role in energy through the utilization of its natural resources and the development of renewable energies. This comes amidst political and economic challenges Libya faces, positioning it as a potential central energy hub in the region.
