The National Oil Corporation of Libya (NOC), in partnership with the US company Freedom First, announced on Sunday its preparations to host the first Libya–US Energy Forum in the near future. The event will be held in Libya and is expected to mark a new chapter in bilateral energy cooperation.
According to the NOC, the forum is designed to strengthen bilateral relations between Libya and the United States, while expanding opportunities for partnership and investment in the oil and gas sector. The initiative also seeks to promote sustainable energy development through knowledge transfer and localization of technical expertise.
The forum is set to bring together a wide range of American oil and gas companies, investors, and industry representatives, alongside Libyan counterparts from both the public and private sectors. Organizers expect it to serve as a strategic platform for advancing cooperation, attracting foreign investment, and shaping the future of Libya’s energy industry.
The announcement underscores Libya’s ongoing efforts to modernize its energy sector, diversify its partnerships, and lay the foundation for a sustainable and prosperous energy future.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
