Libya’s Ministry of Oil and Gas condemns Egypt-South Korea oil deal

Published on : 2023-12-11

Oil & Gas Middle East - The Tripoli-based Libyan Ministry of Oil and Gas has publicly denounced the agreement signed between Egypt and South Korea for the export of Libyan oil via the Egyptian port of Garjoub. This denunciation follows an official statement on the Egyptian Ministry of Transport’s website and Facebook page.

The statement on the Egyptian Ministry of Transport’s Facebook page, dated November 28, disclosed the signing of a memorandum of understanding between the Egyptian government and the South Korean company STX. Notably, it includes the construction of an oil pipeline from Libyan territory to the Garjoub port for re-export to European nations.

Libya left in the dark

In an interview with the Libya Herald, Ahmed Al-Tarhouni, Director of the Media Office at the Libyan Ministry of Oil and Gas, expressed strong objection to Egypt’s reference to Libyan oil. He emphasized Libya’s sovereign rights over its economic resources.

Al-Tarhouni revealed that the Ministry of Oil and Gas was neither informed nor consulted about the agreement between Egypt and South Korea. This lack of communication is seen as a major oversight given the strategic nature of the deal.

The Ministry asserted that Libya should have been notified of such strategic decisions. This would allow the provision of expert technical advice from Libyan professionals in the oil sector.

Related developments

Meanwhile, the Ministry expressed its openness to joint ventures in oil and energy with Egypt, aiming for mutual benefits and respecting each country’s sovereignty. This includes encouraging initiatives like Libyan oil refining projects in Egypt.

Al-Tarhouni pointed out that Libya boasts seven oil exporting ports along the Mediterranean, making additional external ports unnecessary. These ports range from Al-Hariga in the east to Mellitah in the west, efficiently serving European markets without the need for additional land oil lines.

This situation puts the recent Egypt-South Korea agreement under scrutiny, questioning its necessity and the lack of Libyan involvement in decisions impacting its natural resources.

Related Articles

Wintershall Dea Makes Gas Discovery in Norway Cuvette Exploration Well

Wintershall Dea and its partners, Petoro and DNO, have made a gas condensate discovery at the Cuvette prospect in the North Sea, with estimated recoverable volumes of 16-38 million barrels of oil equivalent.

Read More

Wintershall Dea Awarded First Onshore CCS License in Denmark

Wintershall Dea has been awarded an operatorship in Greenstore CO2 storage license in Jutland, the first onshore Carbon Capture and Storage (CCS) license round in Denmark.

Read More

Energean sells Egyptian, Italian, Croatian assets to Carlyle International Energy Partners for $945 million

Energean has entered into a binding agreement for the sale of its portfolio in Egypt, Italy and Croatia to an entity controlled by Carlyle International Energy Partners for up to $945 million, of which $820 million is firm.

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumberger