TotalEnergies Supports Libya as a World-Class Player in the Energy Transition
The first day of the Libya Energy&Economic Summit 2021 featured a presentation by Chairman and CEO of TotalEnergies, Patrick Pouyanné, who spoke of Libya’s resilience in its energy industry, and its positioning as a world-class player in the global energy transition. Congratulating the country’s government on its commitment to joining international climate agreements, such as the Paris Agreement, as well as by committing to sustainable development goals presented at this year’s COP26 UN Climate Change Conference, Pouyanné highlighted TotalEnergies’ role in positioning Libya as a key, global energy producer while meeting local demand and developing the country’s natural resources in a sustainable way.
This historic event represents the first international energy conference held in Tripoli in nearly a decade, as the North African oil producer seeks to revive its energy industry and boost output, while illustrating the resilience of Libya’s position as a key energy producer. Pouyanné reiterated TotalEnergies’ commitment to finding new sources of oil and gas in the country, and to invest in new crude oil projects to meet the world’s demand.
“Libya has the potential to be a key contributor to the international oil balance over the next decade,” stated Pouyanné, noting the country’s untapped oil potential that has yet to be discovered through exploration.
Emphasizing TotalEnergies’ willingness to play a part in the north-African country’s peace and prosperity, Pouyanné highlighted the company’s contributions to providing access to electricity for Libyan citizens to alleviate energy poverty, while facilitating the potential to invest in local capacity building to support the revitalization Libya’s energy sector and economic growth.
“TotalEnergies is reinforcing its partnership with Libya,” Pouyanné said, adding, “I see opportunities and fundamentals of a country blessed with natural resources. I see the strengthening of institutions and many opportunities to work together. Above all, I have faith to do business and work together to build a more sustainable future for the people of Libya.”
Further driving TotalEnergies’ commitment to the energy transition, the event facilitated the signing of an agreement to provide the Libyan national electrical grid with 500 MW of solar energy, while working with the government to decrease gas flaring on all oil operations and committing to the use of renewable energy in the country’s current operational oil fields.
Distributed by APO Group on behalf of Energy Capital&Power.