Libya heads for the polls in December

Even before general elections are scheduled for December, Libya is moving forward with investments in power, oil and gas sectors.

As world powers gathered in Berlin recently to seek lasting peace in Libya ahead of its December 24 general elections, the troubled country is investing nearly $5 billion into projects within the oil and gas, electricity and transport sectors.

Earlier this year, US Secretary of State Antony Blinken urged the withdrawal of foreign forces in Libya, stating the ceasefire agreement concluded last October had to be fully implemented. The United Nations (UN) estimates 20,000 foreign fighters and mercenaries are still in Libya, viewing this statistic as an election threat.

Under design is the $1 billion Mellitah oil and gas Sabratha platforms A and E. The Libya National Oil Company is considering a $150 million investment into the Benghazi oil technical centre. That project calls for the design, construction and operation of an integrated and specialised technical centre in the Mreisa Free Zone 25km from Benghazi. This technical centre will serve the Libyan oil and gas market and other critical industries.

Bidding has also opened on the General Electricity Company of Libya’s (GECOL) Zliten 154MW Power Plant. This $134 million project will have four generation units of 41MW each. Construction is expected to continue until July 2026.

For more information on these projects, please reach out to us here.

 

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