The Minister of Oil and Gas, Mohamed Aoun discussed an economic study for the creation of a gas pipeline from Nigeria to Europe, passing through Niger and Libya.
This initiative was discussed with the Secretary-General of the African Petroleum Producers’ Organization (APPO), Omar El Farouk, during his visit to Tripoli.
The meeting took place as part of El Farouk’s visit to participate in the 2024 Energy and Economy Summit, hosted by Libya on 13-14 January.
According to a statement from the Ministry of Oil, the two parties discussed ways to establish the African Energy Bank to support oil industry projects in Africa. They stressed projects’ utilization in renewable energy production, and the development of member states.
Both sides affirmed the importance of collaborative efforts among member countries to benefit from experiences, technology, lessons, and expertise gained in the oil and gas industry and contracting. They also highlighted the ongoing engagement and involvement of technical parties to mutually benefit from the available expertise within member countries, including centers, institutes, and technical institutions.
In November, Aoun revealed Libya’s ambitious plan to become a renewable energy powerhouse for Europe.
Leveraging its geographical positioning in the sun-drenched Solar Belt, Libya aims to channel sustainable electric power to the European continent, aligning with global energy transition trends.
During the 44th African Petroleum Producers Organisation (APPO) ministerial meeting, presided over by Benin’s Minister of Energy, Aoun underscored Libya’s geographic advantages for solar energy production, envisioning a future where Libya “bridges the energy gap for Europe via green corridors spanning land, sea, and rail.” He added that they are set to deploy this renewable energy strategy, to cement its role in the global fight against climate change, while fostering regional development.
In a groundbreaking strategy to mitigate environmental impact, Libya has set a deadline to end the environmentally detrimental practice of gas flaring by the end of 2025.
This initiative is part of a comprehensive environmental policy, aiming to drastically reduce methane emissions and facilitate a transition to a circular carbon economy, highlighting the role of carbon capture and storage (CCUS) technologies.
Aoun emphasised Libya’s eco-centric mission, underscoring its “minimal historical contribution to climate change, and its proactive steps toward environmental stewardship.”