Libya plans to increase its natural gas production over the next five years to make more supply available for export to Europe by the early 2030s, according to the Chairman of Libya’s National Oil Corporation (NOC) (Reuters, 03/02/2026).
The country aims to raise gas production to nearly 1 bcf/d (10 bcm/year) and to begin shale gas drilling in the second half of 2026. Currently, Libya exports only a negligible volume of natural gas to Europe via the Greenstream pipeline to Italy.
The NOC Chairman also stated that Libya plans to announce the winners of its latest licensing round on 11 February 2026. Around 37 companies, including Chevron, Eni, and ConocoPhillips, participated. Another licensing round is expected later in 2026, potentially covering unconventional resources or marginal fields.
These announcements come as part of Libya’s broader efforts to revive its hydrocarbon sector, including both oil and gas. In late January 2026, the country signed a 25-year oil development agreement with TotalEnergies and ConocoPhillips for the Waha Concessions to increase production capacity. The Libyan government also recently signed a memorandum of understanding with US oil company Chevron (KEI, 27/01/2026).
Libya holds 80 tcf of gas reserves (~2,265 bcm), comprising both conventional and unconventional resources, according to the NOC Chairman.
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