Libya plans gas output boost to supply Europe by 2030, NOC head says

Libya plans to significantly increase its natural gas production over the next five years, aiming to make larger volumes available for export to Europe by the early part of the next decade, the chairman of the state-run National Oil Corporation (NOC), Masoud Suleiman, said on February 3, Akhbar Libya reports. 

Addressing the LNG Conference 2026 in Qatar, Suleiman said Libya intends to raise gas output to nearly 1bn cubic feet per day, while also launching exploration for shale gas in H2 2026.

Foreign investors have long remained cautious about Libya due to political fragmentation and recurring conflict since the overthrow of the ex-dictator Muammar Gaddafi in 2011. Disputes between rival armed factions over oil revenues have frequently disrupted production, leading to repeated shutdowns of fields and infrastructure.

Suleiman said Libya holds around 80 trillion cubic feet of gas reserves, spread across both conventional and unconventional resources. However, current exports remain limited, with only small volumes flowing to Europe via the Greenstream pipeline.

He added that Libya will announce the winners of its latest upstream licensing round on February 11, noting that around 37 companies from Asia, Europe, North America, the Middle East, and Africa took part. Participants included Chevron (NYSE: CVX), Eni (MIL: ENI), ConocoPhillips (NYSE: COP), and a consortium led by Repsol (BME: REP).

Suleiman said the NOC plans to launch another bidding round later in 2026, potentially targeting unconventional resources or marginal fields.

In January, Libya signed a 25-year agreement to develop its oil sector with TotalEnergies (EPA: TTE) and ConocoPhillips. The partners signed an extension (to 2050) for the Waha concessions, unlocking $20bn in investment to nearly double production capacity to 850,000 barrels per day (bpd).