Italy is emerging as a key player in reshaping Euro-African energy diplomacy, with energy giant Eni at the helm of a bold new strategy in Libya. Eni’s €8 billion investment in Libya, supported by the Matei Plan, marks a strategic leap forward for Italy as it seeks to strengthen its economic ties with North Africa. As Europe accelerates efforts to diversify away from Russian gas, Italy is anchoring its energy future in stable, long-term partnerships across the Mediterranean.
As Italy intensifies its focus on long-term investments through Eni and regional partnerships with Libya, the next Libyan Energy and Economic Summit (LEES) 2026, scheduled for January 24-26, 2026, will provide a high-level platform to advance strategic cooperation between the two countries. The summit provides an ideal venue to coordinate public and private stakeholders, accelerate infrastructure development, and strengthen Libya’s important role in regional energy security.
Eni’s €8 billion investment in Libya
Eni’s €8 billion investment, targeting offshore and onshore development projects, including expanding gas production at the Bouri and Bahr Essalam fields, will increase production capacity while meeting growing domestic demand. Eni is leading the Bouli gas utilization project through Melita Oil & Gas, a joint venture with the Libyan National Oil Corporation, and plans to export gas to Europe via the Greenstream pipeline by 2026.
These developments signal a new long-term commitment to Libya’s energy sector, as Italy seeks to anchor its energy supply chain in the hydrocarbon-rich region. This €8 billion is part of a broader €24 billion regional initiative that includes Algeria, Libya and Egypt, the three pillars of Italy’s Southern Energy Corridor. Mr. Eni emphasized that these countries have untapped potential to enable growth in North Africa while ensuring Europe’s energy security through strategic investments.
matei plan
The Matei Plan is Italy’s strategic framework for rethinking its relationship with Africa and moving from aid-based dependency to partnership-based development. Italian Prime Minister Giorgia Meloni has positioned the plan as the cornerstone of a new Mediterranean energy strategy that prioritizes economic cooperation, regional stability and migration management. In Libya, this has translated into a multisectoral cooperation agreement that includes health, education, and renewable energy research. The plan includes major infrastructure upgrades, particularly in energy transport and production, to help Libya meet domestic energy needs while modernizing the sector and increasing exports.
By investing in the revitalization of Libya, Italy aims to foster a stable environment for both energy development and wider regional trade. Italy’s active involvement in Libya through the Matei Plan demonstrates its commitment to balanced and comprehensive cooperation.
Libya’s role in Italy’s energy supply chain
Libya is an important energy supplier to Italy, with an estimated 48.4 billion barrels of proven oil reserves (the largest in Africa). The 520km GreenStream pipeline from the Wafa and Bahr Essalam fields to Gela in Sicily is a key infrastructure asset with a capacity to transport up to 11 billion cubic meters (bcm) of gas per year.
With Eni being Libya’s largest foreign operator (responsible for almost 80% of the country’s gas exports), Italy is in a position to play a decisive role in shaping regional energy flows and strengthening supplies to European and international markets.
LEES 2026 will be a useful forum to strengthen economic and energy ties between Libya and international partners. Eni’s investment sets the stage for the revival of Libya’s large-scale sector, and LEES 2026 will provide a platform to showcase infrastructure development, regional integration projects and new investment opportunities under the Mattei Plan. The summit will highlight Libya’s rise as a stable energy partner and strengthen the country’s leading role in energy security in the Mediterranean.
Join industry leaders at the Libya Energy & Economy Summit 2026 in Tripoli and explore investment opportunities in one of North Africa’s most dynamic energy markets. LEES 2026 provides the best platform for partnerships, innovation and sector growth. To ensure your participation, please visit www.libyasummit.com. To become a sponsor or participate as a representative, please contact sales@energycapitalpower.com.
