Libya pins its hopes on foreign investors to develop shale gas | The National

Libya pins its hopes on foreign investors to develop shale gas | The National:

"Libya plans to allow foreign investors greater stakes in shale gas than in its closely held conventional hydrocarbons industry, part of a bid to create jobs and stability there.

National Oil Corporation (NOC) foresees granting foreign partners joint venture stakes of about 40 per cent, twice the share of existing contracts signed under the former Muammar Qaddafi regime, said Bashir Garea, the company’s exploration manager.

Unleashing fracking on Libya’s estimated 122 trillion cubic feet of shale gas – double the nation’s conventional gas reserves – could help to boost fuel security and create jobs, as it already has in North America."

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