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GAZPROM

October 1, 2004

Delegation of Gazprom visit Libya

During 29 to 30 September, Gazprom’s delegation headed by CEO Alexey Miller stayed in Libya on a working visit.

During his stay Alexey Miller was received by Mr. Shoukri Mohammed Ganem, the Libyan Prime Minister, and met with Abdullah Salem al-Badhri, President of the National Oil Corporation. The parties discussed the oil and gas cooperation prospects.

Reference:

The Libyan natural gas proved reserves are estimated at 1.3 tcm (the third place in Africa following Algeria and Nigeria). Gas production potential is actually undervalued with the 7 billion m3 of gas produced in 2003). Some 90% of gas production (6.25 bcm) goes to domestic consumers and the rest 10%, or 0.75 bcm, is exported to Spain as a liquefied natural gas.

Libya holds the first position in Africa (5 billion t of light sweet) and the fifth place among the OPEC members in terms of proved oil reserves (following Saudi Arabia, Kuwait, UAE and Iraq). As of 1 January 2004 the Libyan discovered oil reserves were at 7 billion tons. Light Libyan sweet is known as one of the best oils in the world having low sulfur content.

The state natural gas policy is provided through the National Oil Corporation set up in 1968. The Company is the state ownership entity vested with the branch ministerial functions and is responsible for development and operation of oil and gas fields in cooperation with foreign investors.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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