Malta and Libya have signed a memorandum of understanding, which will enable Malta to be supplied by Libya with an amount of oil products, including processed and crude oil, diesel, petrol, jet fuel and LPG, with favourable terms and conditions. The agreement will be implemented as soon as oil production in Libya resume under normal conditions in the near future.
The Maltese government said this is a ground breaking memorandum of understanding on which puts forward a number of key agreements which the details will be discussed in the next Joint Commission Meeting in Tripoli.
The agreement also specifies that in the medium to the long term Malta becomes a centre from which Libya can service Europe in the energy sector. The Prime Minster, Dr Joseph Muscat, said that now that the interconnector is in place Malta looks forward to become a juncture to the south whereby it can become an energy hub from which Libya can supply energy to Europe.
Another important step forward is the agreement to consider joint activity to exploring the potential for oil and gas in disputed areas between our two countries.
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