Libya: Set For A Gas Boost In 2019?

Libya gas output has been on the slide since 2013’s record 1.79bn cfd. A set of new gas-hungry power plants since 2010 have driven up consumption leaving less to export. But 2019 could see a turnaround.

Libya hopes to boost gas output in 2019 following five years of almost continual decline. But while gas production has been on a downward trajectory, it has fared better than Libya’s oil output which has frequently fallen to near-zero as a consequence of civil strife (see chart 1).

This is in large part due to the fact the majority of the country’s gas output is concentrated either offshore, in the case of Eni’s Bahr Essalam, or in the far west in the case of the Wafa field, also operated by the Italian firm. This region bordering Algeria escaped much of the conflict that has caused havoc in the country’s Sirte basin oil heartland. (CONTINUED - 871 WORDS)

DATA INSIDE THIS ARTICLE

chart 1: Libya’s Gas Output Has Fared Better Than Crude Since The 2011 ‘Revolution’ But Has Dropped 25% Since 2013’s Record 1.79bn Cfd
chart 2: Gas Consumption Has Shot Up Since 2011, Leaving Less For Export To Italy (Bn Cfd)