Libya has revealed that it may offer areas containing natural gas in a licensing round planned for next year. "It is possible that the bidding round could include gas," Mansour Emtir, petrochemical and gas superintendent of the state-run NOC told Bloomberg, as the country would need more gas to use as feedstock for its power plants and petrochemical projects.
Libya's gas reserves are "largely unexploited and unexlpored", NOC Gas Committee Chairman Jamal Hawisa said while speaking to attendees at the industry event. It is estimated that its already proven natural gas reserves of 54 Tcf could double with an influx of natural gas exploration.
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