Libya is emerging as a new destination of choice for extremists, as both the so-called Islamic State and al Qaeda have used the chaos since the overthrow of Moammar Gadhafi to seize territory and parts of the economy, a report by a security consulting firm said, according to the Wall Street Jounral.

Wednesday’s report warned that Libya could become a dangerous new base for terrorist groups because of the country’s ungoverned hinterlands, long, porous borders and huge oil reserves.

Already, the absence of law and proliferation of weapons and violence in Libya “have allowed violent extremist groups such as Daesh and al Qaeda to thrive,” said the report by The Soufan Group, founded by a former U.S. government official who investigated the 2001 terror attacks.

The report noted that both groups “are both utilizing Libya as a safe haven from which to launch operations against neighboring countries.”

“Given geography, expansive territory, extensive oil reserves and its history with violent jihadist networks, a failed state in Libya could be disastrous for North Africa and Europe as well as the broader international community,” it said.

The warning echoes similar concerns among U.S. officials and comes as United Nations-backed efforts to patch together a unity government and restore order have fallen flat.

The report said the so-called Islamic State and al Qaeda are shifting toward Libya partly because they are being squeezed out of places like Syria by international military coalitions.

Source: MENA