Libya’s gas exports to Italy in the first 10 months of 2020 are down 19% year-on-year at 444mn cfd (see chart 1). With volumes remaining at similar levels for the first two weeks of November, 2020 supplies as a whole are on track to come in 20% lower than 2019’s 551mn cfd, though with prices also down the impact on revenue will be greater.
Libya’s gas output, exports and revenue are modest compared to the figures for oil. But they have also been far more robust than those for oil in recent years (MEES, 13 November). The bulk of gas production, and all exports, come from two key gas-condensate fields operated by Mellitah Oil & Gas, which groups Eni with Libya’s NOC – the Wafa field in the Sahara on the Algerian border and the offshore Bahr Essalam field. (CONTINUED - 661 WORDS)