Italy’s Energy Deal in Libya Criticized as ‘Pomp and Ceremony’

Italy (Washington Insider Magazine) – Italy and Libya have signed an $8 billion energy deal between Italian energy giant Eni and Libya’s National Oil Corporation (NOC). However, critics argue the agreement is more about political optics than real progress.

Key Details of the Deal

• Aims to increase gas production in Libya starting 2026
• Italy and Libya each invest $4 billion
• Expected to generate 21 million cubic meters of gas per day

Criticism and Political Context

Experts question the deal’s feasibility and Libya’s ability to fund its share amid corruption concerns. Analyst Jalel Harchaoui calls it more about political image-building for Italian PM Giorgia Meloni and Libyan PM Abdulhamid Dbeibah, who both seek legitimacy on the global stage.

Challenges Ahead

• Unclear funding sources for Libya’s share
• Political instability in Libya, with its own oil minister rejecting the deal
• Italy’s broader energy strategy in North Africa amid growing competition