Libya Launches Gas Field to Strengthen Domestic Energy Supplies
National Oil Corporation Chairman Masoud Suleiman announced the field’s launch during a ceremony commemorating the 65th anniversary of Libya’s first crude oil export, according to reports.
Suleiman said the facility has a production capacity of 50 million cubic feet of gas per day.
“Bringing this field into production is an important addition to the oil and gas sector, strengthens gas supplies and meets the needs of power plants and industrial sectors,” he added.
Libya shipped its first crude oil export through the Brega oil terminal on October 25, 1961, beginning the country’s entry into international oil markets.
The country currently produces approximately 2.4 billion cubic feet of natural gas daily, while estimates of its proven reserves range between 53 trillion and 80 trillion cubic feet, according to the National Oil Corporation.
Libya supplies natural gas to European markets through pipelines and also uses it domestically to generate electricity and support industrial operations.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
