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China Targets Investment in Libya’s Oil Sector & Hydrogen Production

August 26, 2024
China Targets Investment in Libya’s Oil Sector & Hydrogen Production
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A senior engineer at the Chinese government’s consulting office has emphasised Libya’s need to enhance its oil sector, petrochemical industries, renewable energy, and hydrogen production. He suggested that Chinese companies could significantly contribute by transferring technology and developing infrastructure.

This statement was made during the opening of the Libya-China Economic Forum under the theme “Libya – China: Partners in Development and Reconstruction” in Tripoli on Sunday, according to the Libyan News Agency (LANA). He noted that some Chinese firms are beginning to return to Libya, particularly since many projects initiated by Chinese companies before 2011 remain unfinished.

The visit of the Chinese government’s consulting office delegation to Libya focuses on exploring infrastructure projects that Libya plans to undertake in the near future, according to the Chairman of the National Council for Economic and Social Development, Mahmoud Al-Fitisi. He added that China is keen to participate in Libya’s development projects, and its companies have decades of experience in Libyan infrastructure projects.

The forum included representatives from renewable energy, oil, railways, telecommunications, foreign affairs, and international cooperation, all exploring how to leverage Chinese expertise in Libya’s infrastructure development.

During their visit, from 25th to 29th August, the Chinese delegation is scheduled to meet with officials from the Ministry of Local Government, the Ministry of Oil, the Railway Authority, the Libyan Businessmen Council, the General Union of Chambers of Commerce, Industry, and Agriculture, and the Libya-China Joint Chamber.

In related news, the Chairman of the Renewable Energy Council, Abdel Salam Al-Ansari, announced that the council has launched the National Renewable Energy Initiative as a first step towards green energy transformation, seeking collaboration with international institutions in this field.

In May, during his meeting with Libya’s Prime Minister Abdel-Hamie Dbaiba in Beijing, Chinese Premier Li Qiang stated that both countries could benefit from cooperation under the Belt and Road Initiative, particularly in infrastructure development. However, he clearly expressed that China expects Libya to provide a fair and non-discriminatory business environment for Chinese companies.

Tags: ChinaHydrogenlibyaRenewable Energy
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