The Ministry of Oil and Gas for the Government of National Unity announced that Libya has joined the World Bank’s initiative to eliminate routine gas flaring by 2030.

The announcement was made at an event held at the Bank’s headquarters in Washington, D.C., on Wednesday, as part of efforts to reduce resource waste and maximize the use of gas associated with oil extraction, according to a statement by the ministry on its Facebook page.

$650 Million Worth of Gas Flared in 2024

Estimates indicate that Libya flared approximately 6.3 billion cubic meters of gas in 2024, representing an economic loss valued at approximately $650 million, according to the statement.

The signing ceremony was attended by Oil Minister Khalifa Abdulsadek, Transportation Minister Mohamed Al-Shahoubi, Economy and Trade Minister Suhail Abu Shihah, Director General of the National Mining Corporation Faraj Al-Shandouli, and Director of the International Cooperation Office at the Ministry of Oil and Gas Mohamed Zaid.

The delegation discussed ways to implement a comprehensive action plan to support efforts to reduce routine flaring through technical support programs, capacity building, and policy consulting, thereby strengthening the role of the oil and gas sector in supporting the national economy and achieving environmental sustainability.

The Ministry of Oil affirmed that this accession reflects Libya’s commitment to aligning with international efforts in the fields of energy and the environment, and to supporting the objectives of national initiatives aimed at achieving greater efficiency and sustainability by 2030.