Nova news agency has reported that the CEO of the Italian company Eni, Claudio Descalzi, said that the “technical economic agreement” with the Libyan National Oil Corporation (NOC) aimed to develop very large gas potentials in Libya, which when fully operational would provide more than 160,000 barrels of oil equivalent per day.
It also reported that the CEO indicated that the agreement could be able to cover most electricity demands of Libya, and provide at least a third of the capacity of Italian energy needs as exports.
Nova said Descalzi had explained that the $8 billion project would not only develop Libyan oil resources, but also Libyan professional resources and companies, in addition; it would allow Italian companies to come to work in Libya for Eni and NOC.
Descalzi said this development leads to other major energy developments in both the offshore and onshore parts of Libya, with the potential to double existing gas production.
“They would not only develop gas, but also capture the carbon dioxide produced by these products and develop solar energy. Future projects to export not only gas but also electricity to Italy will be via the Green Stream gas pipeline.” The CEO of Eni reiterated.