Continental Focus, International Reach

Gas Supplies Resume to LifeCo Fertilizer Plant

Sunday, June 16, 2019

Libya’s state-run oil and gas firm, NOC, in a statement on its website said that it had restored natural gas supply to LifeCo. LifeCo is a fertilizer JV NOC operates with Norwegian firm Yara.

NOC said that with gas supplies resumed, the fertilizer plant can resume work shortly. According to the state-run firm, gas supplies to LifeCo were suspended in January because the JV owed it money.

“LifeCo shareholders have agreed on a number of measures to restore operational continuity and protect jobs, including the restoration of gas supply and NOC assuming control of the marketing of ammonia and urea fertilizer products,” NOC said in a statement.

The resumption of supplies follows discussions led by NOC chairman Mustafa Sanalla. The statement on the website said a breakthrough agreement was reached between NOC and LifeCo’s shareholders, the Libyan Investment Authority (LIA), and Yara International ASA (Yara), at a meeting on June 13 at the meeting.

LifeCo shareholders have agreed on a number of measures to restore operational continuity and protect jobs, including the restoration of gas supply and NOC assuming control of the marketing of ammonia and urea fertilizer products.

Sanalla commented: “This breakthrough agreement will protect the interests of the Libyan state as well as the jobs of LifeCo employees. NOC will use all of its talents and experience to market these products and restore the company’s financial security.”


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