What is energy in Libya?

Energy in Libya primarily revolves around the production, consumption, import, and export of energy, with a significant focus on the petroleum industry, which serves as the backbone of the Libyan economy.

Why is Libyan natural gas important for European energy security?

Libyan natural gas is crucial for European energy security, particularly for Italy, which sourced 4% of its natural gas imports from Libya in 2023 via the Greenstream pipeline. This pipeline plays a key role in connecting Libyan gas fields directly to Sicily.

What is Libya's energy supply based on?

Furthermore, in 2020, the combined revenues from oil and natural gas exports constituted approximately 73% of Libya's total export value. In 2020, the total energy supply (TES) primarily came from oil and gas, which contributed 53% and 43%, respectively, while renewables accounted for approximately 4%.

What are the main sources of electricity in Libya?

The primary fuel sources for electricity generation in Libya are natural gas, accounting for 67%, and oil, contributing 33%. Diesel and fuel oil are the main petroleum sources utilized in power plants, although facilities located at oil fields sometimes turn to crude oil when imported refined products are unavailable.

What are the major oil companies in Libya?

The National Oil Corporation is the state oil company of Libya. The biggest oil producers in Libya are Eni, an Italian company, and Repsol YPF, a Spanish one. Other major producers in the country include BASF, Petrobras, Gazprom, ExxonMobil, Pertamina, Nippon Oil, Sirte Oil Company, BP, Hess Corporation, JAPEX, and Oil & Natural Gas Corporation.

How much natural gas does Libya use?

In 2019, Libya consumed 271 billion cubic feet (Bcf) of natural gas, approximately half of its domestic production. The power sector predominantly accounts for the country's domestic natural gas demand, representing roughly 90% of its consumption in 2020.