Siemens to Build 2 Natural Gas Power Plants in Libya
BERLIN (AP) — Germany’s Siemens says it has signed contracts worth some $824 million to build two gas-powered power plants in Libya.
The Munich-based industrial conglomerate said Monday that the plants will be built in Misrata and Tripoli and that the value of the contracts with the state-owned General Electricity Company of Libya includes long-term service agreements.
It said the deal will expand Libya’s power generation capacity by about 1.3 GW, but didn’t specify in a statement when the new plants will start operation.
The deal comes weeks after Siemens AG announced plans to cut about 6,900 jobs worldwide at its power, gas and drives divisions, half of them in Germany. It pointed to a sharp decline in earnings amid increasing pressure from renewable energy sources.
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- U.S. House Passes Bill to Reverse Biden's LNG Pause
- Mexico Orders Seizure of Hydrogen Plant at Pemex Oil Refinery
- EnCap Eyes $5 Billion Sale of Bakken Shale Producer Grayson Mill
- Sunoco to Acquire NuStar Energy in $7.3 Billion Deal for Midstream Expansion
- U.S. Regulators Approve Mexico Pacific LNG's Saguaro Connector Pipeline
- U.S. to Acquire 3 Million Barrels of Oil for Emergency Reserve in September
- AG&P LNG Acquires 49% Stake in Vietnam's Cai Mep LNG Terminal
- BP's Carbon Emissions Increase in 2023, Ending Decline Since 2019
- Texas Sues EPA Over Methane Emission Rules for Oil and Gas Sector
Comments