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Turkey Interested in Libya’s Offshore Oil & Gas Projects

July 27, 2024
Turkey Interested in Libya’s Offshore Oil & Gas Projects
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In a statement to the Turkish newspaper Sabah, Turkish Energy Minister Alparslan Bayraktar announced Ankara’s desire to conduct external surveys to explore hydrocarbons in Libyan maritime areas.

Bayraktar described Libya as a key country for energy resources and emphasized Turkey’s interest in both offshore and onshore oil and natural gas projects there.

He noted that there are areas where Tripoli and Ankara are close to reaching an agreement, with potential developments on the horizon.

According to the newspaper, the Greek Ministry of Defense warned Turkey on Friday that Greece would not tolerate any illegal Turkish activities within the exclusive economic zone established under the 2020 agreement between Athens and Cairo.

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.

Tags: Alparslan BayraktarHydrocarbon ExplorationlibyaTurkey
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