Photo: Al-Mahmoudi (L) meets with GFH chairman Esam Janahi

Gulf Finance House (GFH) is marketing a business idea called "Energy City Libya".

Its chairman Esam Janahi met last week with Secretary of the GPC Al-Baghdadi Al-Mahmoudi and discussed with him such strategy.

The project is said will be part of an international network of Energy Cities and it will cooperate with them.

Energy City Libya is aiming to become a full service energy business centre catering to the commercial, technical and human resource needs of the oil and gas industry, positioning it as the Energy Hub of region.

Energy City Libya will be developed on a land plot of approximately 528 hectares, adjacent to the Mediterranean Sea, 70 kilometers west of Libyan capital Tripoli and will include Residential, Convention, Hospitality and Retail clusters in order to support the Energy component using state of the art facilities.

Mr. Janahi also met with the chairman of the National Oil Corporation Dr. Shukri Ghanem, and President of the Libyan Social Development Fund Mr. Hamad Al Hadhiri, as well as the Chairman of Gaddafi Development Foundation.

With one of the highest per capita GDPs in Africa, Libya holds the largest proven oil reserves in Africa, and the oil sector contributes to 95% of export earnings for the economy.

The country's natural gas production has also grown substantially in the past few years with the continuing trend of energy production and export.