The Libyan Council for Oil, Gas and Renewable Energy (LCOGRE) and Business France have signed a Memorandum of Understanding (MoU) to deepen collaboration between French and Libyan companies. The agreement also opens the door to the potential establishment of a joint venture, aimed at supporting investment and project development across Libya’s energy value chain.
The agreement was signed by Philippe Garcia, Director for North Africa at Business France and Dr. Khaled Ben Othman, Chairman of LCOGRE, during a France-Libya Roundtable held at the Libya Energy & Economic Summit 2026.
Sponsored by Business France, the roundtable brought together public and private-sector stakeholders to advance bilateral dialogue and identify new opportunities for cooperation in oil, gas and renewable energy.
“We are focused on finding the best solutions to support the development of Libya’s private oil and gas sector, leveraging French technologies, companies and expertise for the mutual benefit of both countries,” Garcia said.
The agreement comes as bilateral trade between Libya and France continues to rise. In 2025, trade reached €470 million, representing a 50% year-on-year increase. Trade spans multiple sectors, including oil and gas, agro-industry, industrial equipment, services and among others.
Business France has played a central role in bolstering trade, with the organization facilitating the engagement of 150-200 French companies through trade missions to Libya, structured B2B meetings and reciprocal Libyan delegations to France.
Looking ahead, the agency plans to expand cooperation in energy, infrastructure and logistics, healthcare and consumer goods.
“We are steadily increasing initiatives to bring French companies closer to our Libyan partners. This happens here in Libya, and increasingly in France, where we welcome Libyan leaders from all key sectors to strengthen and expand cooperation between our two countries,” Garcia stated.
Dr. Othman added, “I hope that in the future we will make renewable energy and gas projects in the Libyan market together.”