Libya one of the countries targeted by the Energy Charter's consolidation, expansion and outreach policy, a number of high-level and working level meetings took place over the past year between the Energy Charter and Libyan officials.

The Libyan economy depends primarily upon revenues from the oil sector, which accounts for 80% of the country's GDP and 97% of its exports. Libya holds the largest proven oil reserves in Africa and is an important contributor to the global supply of light, sweet crude. Some of the country's other key natural resources are natural gas and gypsum.