Robert Besser
01 Feb 2023, 12:40 GMT+10
TRIPOLI, Libya: Italian prime minister Giorgia Meloni held talks on energy and migration in Libya this weekend, which are major concerns for Italy and the European Union.
During the visit, oil companies from the two countries signed an $8 billion gas deal, the largest single investment in the Libyan energy sector in more than two decades.
Amid Moscow's invasion of Ukraine, Meloni aims to secure new supplies of natural gas to replace Russian energy, and she had previously visited Algeria, Italy's main supplier of natural gas, and signed several agreements.
Meloni, accompanied by Italian Foreign Minister Antonio Tajani and Interior Minister Matteo Piantedosi, met separately with Abdel Hamid Dbeibah, leader of one of Libya's rival administrations, and Mohamed Younis Menfi, chair of Libya's ceremonial presidential council.
During a round-table with Dbeibah, Meloni stressed that Italy wants to increase its profile in the region, though it does not seek a "predatory" role, but wants to help African nations "grow and become richer."
During the visit, Claudio Descalzi, CEO of ENI, Italy's state-run energy company, and NOC chairman Farhat Bengdara signed an $8 billion agreement with Libya's National Oil Corporation to develop two Libyan offshore gas fields.
Attending the signing ceremony, Meloni stressed that the deal was "significant and historic" and will help Europe in securing sources of energy.
"Libya is clearly for us a strategic economic partner, Meloni said.
Due to Moscow's war on Ukraine, Italy has moved to reduce dependence on Russian natural gas, and last year it reduced imports by two-thirds to 11 billion cubic meters.
Get a daily dose of New Zealand Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New Zealand Star.
More InformationWASHINGTON D.C.: US House of Representatives Speaker Kevin McCarthy has said that lawmakers will move forward on legislation aimed at ...
CROWNPOINT, New Mexico: Navajo Technical University, located on the largest Native American reservation in the US, has become the first ...
WEST READING, Pennsylvania: An explosion occurred at a chocolate factory in Pennsylvania, killing seven people and seeing ten staff members ...
OTTAWA, Canada: US President Joe Biden and Canadian Prime Minister Justin Trudeau have announced a plan to close a loophole ...
UVLADE, Texas: Texas police stopped a Florida-bound freight train this week and discovered two migrants had died in a freight ...
ROLLING FORK, Mississippi: A powerful tornado has struck Mississippi, killing at least 25 people, injuring dozens, flattening entire blocks and ...
NEW YORK CITY, New York: Bloomberg News has reported that New Jersey-based Valley National Bancorp is bidding to purchase Silicon ...
NEW YORK, New York - U.S. stocks lipped on Tuesday as bond yields rose in the aftermath of the easing ...
DUBLIN, Ireland: US pharmaceutical giant Eli Lilly has said it will build a $1bn medicine manufacturing site in Limerick. Lily ...
WASHINGTON D.C.: The US National Transportation Safety Board has said that after an automated cockpit warning that switched off a ...
BEIJING, California: As the world's second-largest economy is still struggling to fully recover from the long-term effects of COVID-19, most ...
NEW YORK, New York - Bank shares were being bought up on Monday as U.S. industrial stocks kicked the week ...