By Sami Zaptia.
London, 29 July 2021:
The German-based Euro-Mediterranean-Arab Association (EMA) and the private sector Libyan Council for Oil, Gas & Renewable Energies (LCOGRE) organized an ‘‘Online Roundtable on Libya’s Energy Sector’’ on Tuesday in which Libya’s Oil Minister, Mohamed Aoun, participated.
The event said that although Libya has the ninth-largest proven oil reserves in the world, structural deficiencies still weigh on sustainable growth. In order to diversify the economy, the renewable energies sector is being expanded, which is institutionally reflected by the creation of the Libyan Council for Oil, Gas, and Renewable Energy (LCOGRE) in late 2020 making renewable energy an attractive area of investment.
The LCOGRE is a private-sector organization of the country’s energy sector with the aim to open room for debate on the role of renewable energies in sustainable development.
This roundtable focused on the Libyan private sector and its specific needs in the field of energy and on the opportunities for German companies to engage in Libya.
In the oil sector, special attention is given to operations and production as well as to construction and manufacturing.
In the renewable energy sector, the Libyan partners are especially interested in:
- Exploring available opportunities to take advantage of solar, wind, and biomass power in joint Libyan-German investment projects.
- Discussing ways of partnership available to Libya’s private sector with German companies in the energy and transportation sectors based on solar, wind, and biomass power.
The event organized a Q&A session after the main presentation. The Q&A session was divided into 3 breakout rooms:
- Oil & Gas
- Renewable Energy
- Economic & political
Coincidently, the British Department for International Trade was holding a webinar on renewable energy in Libya on the same day in which, Hamid Sherwali, the head of the Renewable Energy Authority of Libya (REAoL) was a main speaker.