Saudi Arabia to Invest in Libya?
While much of the focus on Libyan business ties with Gulf countries has been on the UAE and Qatar, Saudi Arabia could also emerge as an important partner. During Libyan Oil and Gas Minister Abdelbari al-Arusi’s recent visit to Saudi Arabia he discussed with various Saudi Arabian businessmen the possibility of their investing in a whole range of Libyan industries including infrastructure, petrochemicals, tourism, health, and education. His time with the Eastern Province Chamber of Commerce was spent with the private business community, but he also paid a visit to the state-owned oil and gas giant Saudi Aramco.
During his visit to the Aramco Company, Aarusi said he discussed several issues related to oil and gas as well as means to benefit from Aramco’s services, adding he expected Libyan delegations to visit Aramco in the future in order to sign agreements.
If Saudi Aramco is seriously considering involvement in Libya, then the highest levels of the Saudi government must be in favor of closer bilateral ties. Are their joint refining projects on the horizon?