Libya, Cyprus to sign energy agreements

Libya plans to sign agreements with Cyprus concerning the supply of oil and natural gas, according to a senior Libyan official.

May 27, 2009

Eric Watkins
OGJ Oil Diplomacy Editor

LOS ANGELES, May 27 -- Libya plans to sign agreements with Cyprus concerning the supply of oil and natural gas, according to a senior Libyan official.

"We look forward to signing agreements with Cyprus in the fields of oil and natural gas," said Libya's Minister of Justice Mustafa Mohamed Abdel Jalil.

"There are many areas of cooperation that are vital for both countries," Jalil said after meeting with Cyprus Minister of Commerce, Industry, and Tourism Antonis Paschalidis.

Libya has sufficient quantities of oil and natural gas it can supply to others, Jalil said, adding that his country will give priority to neighboring countries such as Cyprus.

In April, Libya's National Oil Corp. Chairman Shukri Ghanem, following talks with Paschalides, said the company is considering investing in oil and natural gas exploration off southern Cyprus (OGJ Online, Apr. 30, 2009).

Contact Eric Watkins at [email protected].