AfrOil: Italy, Libya sign $8bn gas deal

Italian Prime Minister Giorgia Meloni arrived in Libya on January 28 to sign a natural gas supply deal with the state-owned oil company, after visiting Algeria the previous week for the same purpose. She was accompanied by Claudio Descalzi, the CEO of Italy’s Eni, and Italian Foreign Minister Antonio Tajani.

The Italian delegation met with the head of Libya’s Government of National Unity (GNU), Abdulhamid Dbeibah, to sign an $8bn gas production deal with Libya’s state-owned National Oil Corp. (NOC).

The deal, which reportedly has a term of 25 years, aims to provide NOC with Eni’s technical know-how and logistical support to increase production for the domestic market, as well as boosting exports to Italy. The document includes plans for the development of two new offshore gas fields and reflects Italy’s novel ambition to become a European hub for African gas.