H.E. Mohamed Oun, Libya’s Minister of Oil and Gas.

The Libya Energy & Economic Summit 2021 provided regional and international participants with an inside view of the country’s formidable energy sector. Two days of networking, dialogue, and engagement have led to several high-level deals being signed, partnerships formed, and challenges addressed that will lead the country into a new era of sustained energy and economic growth. Issuing the closing remarks for the esteemed conference, H.E. Mohamed Oun, Minister of Oil and Gas for the State of Libya, m ade a strong case for investment, development, and participation across Libya’s diverse energy sector. 

Throughout the Summit, participants emphasized that as the country emerges into a new era of political stabilization and peace, energy sector stakeholders are eager to accelerate development and the resumption of key projects. Across the oil and gas sphere, Libya is committed to seeing the revitalization of existing oilfields, the increase in new exploration campaigns, and the scaling up of production.

Meanwhile, on the renewables front – which comprised a key area of focus at the Summit – Libya is committed to seeing the uptake of new projects, particularly across the solar industry, the facilitation of new power generation solutions, and the expansion of the national grid to remote areas. Accordingly, deals signed such as those between TotalEnergies and the Office of the Prime Minister and GECOL, will be critical in the country’s journey to establish its as a green economy.

With discussions covering a number of topics and presentations offering valuable insight into the Libyan market, the Summit served as a critical platform for securing investment and driving development in Libya.

“We hope Libya would be able to hold many other summits like this one, and we surely hope to see you all again,” stated H.E. Mohamed Oun.