LOGRE Fair 2023 in numbers

The oil, gas and renewable energy industry is one of Libya’s main sources of income as it directly contributes to the country’s economic growth. In addition to various other natural resources and a strategic geographical location, Libya is also a major player in the global energy market.

 To develop and modernize the infrastructure of the various energy industry as well as increase production levels, the Libyan government is working to invest heavily in the development of the oil, gas and renewable energies to increase production until it reaches three million barrels of oil per day and ten thousand megameters of electric energy in the next three years.

 In general, the general indicators for the oil, gas and renewable energy industry in Libya for the coming decades are considered high due to the large government investments and reserves owned by the Libyan state, which is number one at the African level and tenth in the world.

 As for Libya’s natural gas reserves, Libya has one of the largest gas reserves in the region, estimated at 53 trillion cubic feet, and exploration and exploration operations are continuing to complete the work.

Moving to the renewable energy sector, studies have been carried out in which Libya was classified as one of the countries that have strategic locations that can establish solar power plants that cover the needs of the local and international market, and indeed the Libyan state has begun to invest in this promising sector and signed many contracts to establish solar power plants in each of the plug east of the city of Misrata and another station in the city of Bani Walid in the center of the country and another in the city of Kufra in southeastern Libya.