August 22, 2011 / 2:28 PM / in 6 years

Russia firms seen shut out of Libya post-Gaddafi

MOSCOW, Aug 22 (Reuters) - Russian energy firms are likely to be barred from resuming work in Libya if NATO-backed rebels succeed in overthrowing Muammar Gaddafi, a Russia-Libya business group said on Monday.

“We have lost Libya completely,” Aram Shegunts, director general of the Russia-Libya Business Council, told Reuters.

“Our companies won’t be given the green light to work there. If anyone thinks otherwise they are wrong. Our companies will lose everything there because NATO will prevent them from doing their business in Libya.”

Gazprom (GAZP.MM), Gazprom Neft (SIBN.MM) and Tatneft TATN3.MM have invested hundreds of millions of dollars in oil and gas exploration in Libya, but suspended operations after an uprising broke out earlier this year against Gaddafi’s rule. (Reporting by Vladimir Soldatkin; editing by Douglas Busvine)

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