Business gas discovery

Eni Discovers 1 Tcf Gas Offshore Libya

Analysis based on 12 articles · First reported Mar 16, 2026 · Last updated Mar 17, 2026

Sentiment

Attention

Articles

Market Impact

Direct

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Market Impact

The discovery of over 1 Tcf of gas by Eni in Libya is expected to positively impact the energy markets by increasing gas supply to both Libya's domestic market and Europe, particularly Italy. This event reinforces Libya's position as a key gas supplier and enhances Eni's market standing and production outlook.

Oil and gas Energy Utilities

Event Summary

Eni has announced two new significant gas discoveries, Bahr Essalam South 2 and Bahr Essalam South 3, off the coast of Libya. These adjacent geological structures are estimated to jointly contain more than 1 trillion cubic feet (Tcf) of gas in place within the Metlaoui Formation. The discoveries were made approximately 85 km offshore and 16 km south of the existing Bahr Essalam gas field. Their proximity to current infrastructure will enable rapid development through tie-back to existing offshore facilities. The gas produced will be supplied to the Libyan domestic market and exported to Italy, which relies on Libyan gas for its energy needs. Eni, present in Libya since 1959, is the country's leading international operator and is currently executing three development projects, with two scheduled to start in 2026. Libya aims to increase its gas production to one billion cubic feet per day by the early 2030s, maximizing the potential of the GreenStream pipeline to Europe. Eni also secured a new concession off Sirte in partnership with QatarEnergy, further expanding its exploration footprint in the region.

Key Actions

100 Eni discovered two new gas fields

80 Libya aims to increase gas production

70 Eni secured a concession for exploration Libya

Entities Involved

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Eni

Eni has made two significant gas discoveries in Libya, Bahr Essalam South 2 and Bahr Essalam South 3, which are estimated to contain over 1 Tcf of gas. This discovery enhances Eni's production capacity and strengthens its position as a leading international operator in Libya, with plans for rapid development and export to Italy.

Importance 100 Sentiment 70

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Libya

Libya benefits from the new gas discoveries by Eni, as the gas will be supplied to its domestic market and contribute to its goal of increasing gas production to one billion cubic feet per day by the early 2030s. This also reinforces Libya's role as a key gas supplier in the Mediterranean region.

Importance 90 Sentiment 50

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Italy

Italy will benefit from the new gas discoveries in Libya as the gas produced will be exported to Italy, strengthening its energy supply and diversifying its sources. Libyan gas is an important component of Mediterranean energy flows for Italy.

Importance 60 Sentiment 30

govactor

Libya===National Oil Corporation

The Libya===National Oil Corporation is a joint venture partner with Eni in Mellitah Oil & Gas, which owns and operates the Bahr Essalam field. The new discoveries will likely enhance the overall production and revenue for the Libya===National Oil Corporation.

Importance 50 Sentiment 40

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QatarEnergy

QatarEnergy is mentioned as a partner with Eni in a concession covering 29,000 square kilometers off Sirte, indicating a broader collaboration in exploration and production in Libya.

Importance 10 Sentiment 20

stock

BP is involved in a joint venture with Eni to drill Libya's first deepwater well in years, targeting another potential gas reservoir off the coast of Sirte, indicating its presence in Libyan exploration efforts.

Importance 5 Sentiment 10

Relationships

Eni related ↔ Libya

Eni related ↔ QatarEnergy

Eni related ↔ BP

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