Libya and Malta agree oil deal; will collaborate on exploration
Malta and Libya have struck a deal under which the Maltese can buy Libyan oil and other energy products [[[[at preferential rates]]]. The deal, in the form of a memorandum of understanding, was signed after the Maltese Prime Minister Joseph Muscat had a meeting in the Maltese capital Valletta with the Libyan Prime Minister Ali Zeidan, who arrived in Malta this morning. The agreement provides that Libya will supply energy products to Malta at preferential rates. That will include crude and refined oil, jet fuel and LPG. The agreement kicks in as soon as Libya resumes normal production, which is expected in the near future. “This will shield Malta and enable it to stabilise the price of fuel amid international price fluctuations,” the Maltese Prime Minister Joseph Muscat said at a press conference. He described the memorandum of understanding as ‘groundbreaking’. [[[Malta, he said, could in the medium term, become a hub for energy supplies to the EU]]]. The two countries also reached an arrangement for Libyan oil and gas workers to learn English in Malta.. Replying to questions, Dr Muscat said the new deal with Libya was independent of the government’s plans to reduce energy tariffs and bring in new generating capacity, which remained on time. The difference from the past, he said, was that Malta now had an energy policy. This agreement and other initiatives which were being discussed would help the economy and also help restore Enemalta to a sound financial footing.
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