Libya’s energy sector has become a focal point for European and regional governments as oil and gas supply routes across North Africa face renewed pressure from market volatility and infrastructure constraints.
Libya’s Minister of Oil and Gas announced a $20 billion investment programme at the Libya Energy & Economic Summit 2026 in Tripoli to raise national oil production to 2 million barrels per day by 2030 and expand gas output for domestic power generation and exports to Europe.
Libya has announced a $20 billion investment programme to increase oil production to 2 million barrels per day by 2030 and expand gas output for domestic electricity and European exports, the Ministry of Oil and Gas said at the Libya Energy & Economic Summit 2026 in Tripoli.
The plan includes continued upstream licensing rounds and long-term agreements with international energy companies to support production growth and infrastructure development.
Introduction
Libya currently produces an average of about 1.375 million barrels of oil per day, its highest level in several years, and is seeking to stabilise output after prolonged disruptions linked to political division and infrastructure outages.
Officials said the investment programme is intended to secure long-term financing, attract foreign operators, and align gas development with power generation needs and export capacity to southern Europe.
The framework includes extended contract terms designed to provide long-term investment certainty and align with international upstream development practices. Officials said the programme is intended to stabilise output and support sustained production growth.
- 2025 average oil production level
- 2030 production target
- $20 billion multi-company investment programme
Production and Investment Overview
| Current Output | Average oil production of 1.375 million barrels per day reported for 2025 |
| Target Output | Government objective to reach 2 million barrels per day by 2030 |
| Investment Programme | $20 billion initiative involving international energy companies and extended contract terms |
Gas Development and European Supply Links
Libya’s government identified gas production as a priority for meeting domestic electricity demand and supporting exports to European markets. Officials highlighted the role of existing infrastructure, including the Greenstream pipeline, in linking North African gas output with southern Europe.
The Ministry of Oil and Gas said gas production is expected to reach between 700 and 750 million standard cubic feet per day in 2026. This level is intended to support domestic industry and export commitments while reinforcing Libya’s position in regional energy supply arrangements.
- Domestic power generation support
- Exports through existing pipeline infrastructure
- Regional energy security cooperation
Gas Supply and Export Focus
| Projected Output | 700–750 million standard cubic feet per day in 2026 |
| Export Route | Greenstream pipeline linking Libya to European markets |
| Domestic Use | Electricity generation and industrial demand within Libya |
International Licensing and Investment Engagement
Roundtable discussions at the summit brought together representatives from the United States, France, Italy, and the United Kingdom to review Libya’s licensing strategy and project pipeline. Officials stated that continued licensing rounds are intended to provide a structured and predictable approach for international operators.
Energy companies and business organisations discussed opportunities linked to upstream development, renewable projects, and infrastructure rehabilitation. Libya’s government said regular acreage offerings and engagement with foreign partners form part of a broader strategy to sustain long-term production and investment.
- Second upstream licensing round planning
- Engagement with U.S. and European energy firms
- Project development and infrastructure cooperation
Stakeholder Comments
Ministerial Comments
Dr. Khalifa Abdulsadek, Libya’s Minister of Oil and Gas said;
“We witnessed the highest production rate in years, averaging 1.375 million barrels per day, and we have launched a programme with international partners to support production growth through long-term investment and licensing continuity.”
Farid Ghezali, Secretary General of the African Petroleum Producers Organization said;
“Cooperation on transport, joint energy projects, and infrastructure development strengthens regional energy resilience and supports global markets through shared investment frameworks.”
Closing Thoughts
Libya’s announcements at the 2026 summit outlined a coordinated approach linking production targets, gas development, and international licensing with regional and European energy supply considerations.
The government’s stated focus on investment stability and foreign engagement positions the energy sector as a central component of national infrastructure and economic planning. Ongoing cooperation with international partners is expected to shape future upstream activity and cross-border energy connectivity.
Sources: Libyan Ministry of Oil and Gas; Libya Energy & Economic Summit (LEES) 2026 official statements; Libya British Business Council.
Prepared by Ivan Alexander Golden, Founder of THX News, an independent news organisation delivering timely insights from global official sources. Combines AI-analysed research with human-edited accuracy and context.