For Libya, the Hormuz crisis can be a trap or an opportunity

Amid the worsening global energy crisis triggered by the US-Israel war on Iran, European countries, desperate for alternative energy supplies, trade routes and partnerships, have looked across the Mediterranean for solutions.As a result, governments across North Africa have started to reassess their strategic value. Algeria is in an especially strong position as an established gas supplier, while Egypt can offer infrastructure, refining capacity and access through the Suez Canal.Libya has also seen its strategic value increase. It has around 48 billion barrels of proven oil reserves, the largest in Africa, and produces 1.5 million barrels of oil per day. It also has substantial natural gas reserves.Its oil reaches international markets through the Mediterranean, while the Greenstream gas pipeline connects its Mellitah complex directly to Europe.Libya cannot replace the Gulf in terms of oil and gas exports, but it can become a major player in diversification efforts not just in Europe but elsewhere in the world. The challenge the country faces is how to take full advantage amid structural constraints and insecurity.Energy insecurity at homeLibya is simultaneously a major energy expo...