Wednesday, June 4, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libyan Audit Bureau Denies Knowledge of Italian Gas Agreement

February 4, 2023
Share on FacebookShare on Twitter

The Head of the Libyan Audit Bureau (LAB), Khaled Shakshak said that the government’s agreement with the Italian energy company, Eni was not presented to the Bureau.

In a televised interview with Libyan Al-Masar TV, Shakshak explained that the agreement was presented to the government’s Supreme Council of Energy “in principle, not with details, procedures, and integrity. Legally, the agreement should be presented to LAB in order to obtain prior approval in principle. Now, we have asked for all the details of the agreement and for the entire matter for study,” he concluded.

Last week, the Libyan Ministry of Gas and Oil reiterated its rejection of the deal signed between the state-owned National Oil Corporation (NOC), and Eni.

It said in a statement that the agreement was concluded, illegally. “This procedure requires prior approval from the Ministry of Oil and Gas to raise the share of the foreign partner (Eni). The Ministry would then refer the approval to the Council of Ministers for a decision. But this did not happen,” the statement said.

It said that “only the Ministry of Oil and Gas is legally empowered to implement that agreement, not the NOC.” It also urged the NOC Chairman, Farhat Bengdara “to follow the legal measures, and to refer to the technical and economic justifications on the basis of which this amendment was made to the Ministry.”

“The NOC’s unilateral decision to amend agreements encourages other partners to amend their agreements, without referring to the legislation stipulated under Libyan law,” the statement added.

According to Reuters, the deal, signed during a visit to Tripoli by Italy’s Prime Minister, Giorgia Meloni, aims to increase gas output for the Libyan domestic market, as well as exports.

“This agreement will enable important investments in Libya’s energy sector, contributing to local development and job creation while strengthening Eni’s role as a leading operator in the country,” said its Chief Executive, Claudio Descalzi.

The NOC expects to achieve net revenues estimated at $13 billion dollars from the deal. Bengdara said that the value of the investments included in the agreement amounts to $8 billion dollars within 3 years.

During a press conference with Descalzi, Bengdara added that the agreement “includes the development of gas fields with reserves close to 6 trillion cubic feet, and a production capacity of 750 million cubic feet per day for a period of about 25 years.”

Tags: Audit BureauEniItalylibyaLibyan Gas
Next Post

Libyan MP’s Call for Bashagha Cabinet Reshuffle

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Greece Eyes Libya Cooperation to Block Boats from Eastern Coast

Saddam Haftar Attends French-Led Mediterranean Military Summit

Libyan Parliament Approves Budget for Reconstruction Fund

Tripoli Government Assigns “Ali Al-Abed” as Acting Oil Minister

Dbaiba Unveils 3-Track Initiative to Resolve Libya’s Political Stalemate

Haftar: Libyan National Army Ready to Facilitate Elections

EDITOR PICKS

Over 3,000 Migrants Deported from Libya in May

GCC Ministers Reaffirm Support for Political Dialogue & Sovereignty in Libya

Libya & China Resume Talks on Misrata Cement Plant

Haftar: Libyan National Army Ready to Facilitate Elections

Saddam Haftar Attends French-Led Mediterranean Military Summit

Dbaiba Unveils 3-Track Initiative to Resolve Libya’s Political Stalemate

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR