With Libya’s proven oil reserves more than doubling in the last 40 years, the country has become one of Africa’s biggest oil producers and aims to achieve an output of two million barrels per day by 2030. During the second edition of the Libya Energy & Economic Summit (LEES) – held on January 13-14, 2024 – discussions centered on strategies for increasing output, and women participants stood out for their insights, covering legal, financial, and environmental perspectives.
Azza Kamel Maghur, Senior Business Strategy Advisor at Murzuq Oil Services, contributed to the discussion on financing energy projects during a panel on investment, competitiveness, and partnerships in Libya. Stressing the oil industry’s significance to Libya’s economy, she highlighted foreign investment as pivotal for unlocking Libya’s vast potential in upstream energy. This investment, she emphasized, is crucial not only for economic expansion but also for the deployment of renewable energy and the development of new infrastructure.
The discussion was moderated by Asma Muttawa, Counsel with the White and Case Group in London, who steered the conversation with insightful questions. Her expertise in the energy sector, spanning over 20 years, focuses on advising sovereign, national oil company, and renewable energy clients. Muttawa guided the panel in exploring solutions to attract private sector investment, ensuring project viability and competitiveness, and establishing partnerships with international lending institutions.
Additionally, Miriam Dalli, Malta’s Minister of Environment, Energy & Enterprise, delivered a ministerial keynote at the conference, stressing the significance of partnering with Libya for a sustainable future and aiming to establish the Mediterranean as a green energy hub. Transitioning to cleaner energy, fostering a greener economy, and building a sustainable society are key priorities for Dalli. A memorandum of understanding signed between Malta and Libya in 2023 underscores the potential for an “indirect energy connection” and collaborative renewable projects.
LEES 2024 featured May Ben Khadra, a Business Anchor at CNBC Arabia, as the Master of Ceremonies. Khadra skillfully hosted the conference, leveraging her background in corporate banking to steer discussions.
Energy Capital & Power’s Women in Energy series celebrates the women shaping the future of the African energy sector. From projects to companies to programs and community development, the Women in Energy series underscores the integral role women play in developing the sector. Visit www.energycapitalpower.com and keep up-to-date with our social media channels for daily content.
