Even ahead of general elections scheduled for December, Libya is moving forward with investments in the energy, oil and gas sectors.

As world powers gathered in Berlin recently to seek lasting peace in Libya ahead of general elections on December 24, the troubled country is investing almost $5 billion in projects within the oil and gas, electricity and transportation sectors .

Earlier this year, US Secretary of State Antony Blinken urged the withdrawal of foreign forces in Libya, saying that the ceasefire agreement concluded last October must be fully implemented. The United Nations (UN) estimates that 20,000 foreign fighters and mercenaries are still in Libya, and sees this statistic as an electoral threat.

Under design are the $ 1 billion Sabratha Mellitah oil and gas platforms A and E. The Libyan National Oil Company is considering a $ 150 million investment in the Benghazi oil technical center. This project includes the design, construction and operation of an integrated and specialized technical center in the Mreisa Free Zone, 25 km from Benghazi. This technical center will serve Libya's oil and gas market and other critical industries.

Bidding for General Electricity Company of Libya's (GECOL) 154MW Zliten power plant has also been opened. This $ 134 million project will have four generation units of 41MW each. Construction is expected to continue until July 2026.

Source: ABIConsulting