AGI – Geopolitical tensions linked to Russian gas supplies reinforce the importance of Italy as a “strategic bridge” for Europe, in line with the strategy of plan Mattei launched by the government of Giorgia Meloni. Indeed, Italy is an important center for energy with Transmedthe gas pipeline built with the primary aim of transporting gas of Algerian origin to Italy and which, after the war in Ukraine, also supplies Austria, Germany and Slovenia, and with Green Streamwhich connects Libya to Sicily.
The Libyan energy sector not only remains the economic pillar of the country, but it is also gaining importance for Europe. An article published in the newspaper Al Wasat emphasizes that the recent legal disputes between Gazprom and the Austrian company OMV have increased uncertainties regarding the supply of Russian gas to Austria and Central Europe, which opens up new prospects for Libyan gas. With the possibility that these tensions could lead to an interruption of Russian supplies by the end of the year, theAustria’s interest in Libyan gas could intensify.
Gas produced in Libya is mainly exported via the gazoduc Green Streamwhich connects the country to Italy. With a maximum transportation capacity of 11 billion cubic meters per year, approximately 2.52 billion cubic meters of gas were exported to Italy in 2023, representing 4.17% of Italian national consumption. This level represents a reduction of 3.7% compared to 2022 and does not exploit the great potential available. However, infrastructure upgrades could help increase exports not only to Italy, but also to countries such as Austria, which wants to diversify its sources of supply.
In this context, the meeting between Libyan Oil Minister Khalifa Abdul-Sadiq and Austrian Ambassador to Libya Barbara Grosseplays a strategic importance. The discussions focused not only on the resumption of activities ofAbout Libyabut also on the prospects for cooperation in the field of gas and energy produced from renewable sources. Austrian interest could be linked to the possibility of accessing Libyan gas via the Green Stream, which would strengthen energy cooperation between the two countries and ease uncertainties linked to reduced Russian supplies.
Libya produces much less gas than Algeria, but future prospects are improving. This is evidenced, for example, by the recent resumption of gas production in the Bahr Essalam offshore field, which increased by 33 million cubic feet per day. There National Oil Corporation (Noc, the Libyan national oil company), in cooperation with Eniplans to further increase gas production to 750 million cubic feet per day by 2026. Part of this production could be exported to new markets, notably Austria, which would help diversify the destinations of the Libyan gas and to strengthen the country’s position as a regional energy player.
