Libya plans to significantly increase its natural gas production over the next five years in order to expand export supplies to Europe by early 2030, National Oil Corporation (NOC) Chairman Massoud Suleman said on Tuesday.

Speaking at the LNG2026 conference in Qatar, Suleman said Libya aims to raise gas output to nearly 1 billion standard cubic feet per day and begin drilling for shale gas in the second half of this year.

Investment in Libya’s energy sector has long been hindered by political instability and security challenges following the 2011 overthrow of Muammar Gaddafi. Ongoing disputes between rival armed factions over control of oil revenues have frequently resulted in shutdowns of oil and gas facilities, discouraging foreign investment.

Suleman said Libya holds around 80 trillion cubic feet of natural gas reserves, including both conventional and unconventional resources. Despite this potential, current gas exports remain minimal, with only negligible volumes being shipped through the Greenstream pipeline.

Libya is also preparing to announce the results of its latest licensing round on February 11, Suleman said. The bidding process attracted about 37 companies from Asia, Europe, North America, the Middle East and Africa, including major international energy firms such as Chevron, Eni, ConocoPhillips and a consortium involving Repsol.

In addition, the NOC plans to launch another bid round later this year, which could focus on unconventional gas resources or marginal fields. Suleman also noted that Libya signed a 25-year oil development agreement last month with TotalEnergies and ConocoPhillips, signaling renewed efforts to attract long-term investment into the country’s energy sector. (ILKHA)