Italy clinches gas deal with Algeria| MENAFN.COM

Monday, 04 July 2022 03:46 GMT

Italy clinches gas deal with Algeria

(MENAFN- AzerNews)

By Trend

Italy clinched an agreement on Monday to ramp up gas imports from Algeria by around 40% in its first major deal to find alternative supplies, Trend reports citing Reuters .

In a visit to Algeria, Italian Prime Minister Mario Draghi said agreements reached were a significant step in Italy's drive to cut its reliance on Russian gas.

'Others will follow,' he told reporters in Algiers following a meeting with Algerian President Abdelmadjid Tebboune.

Italy, which sources about 40% of its gas imports from Russia, has been scrambling to diversify its energy supply mix.

Draghi has previously said while replacing 30-40% of supplies from Russia could be done immediately, it would be much harder to replace the rest.

In a statement, Italian energy group Eni (ENI.MI) said it had agreed with Algeria's Sonatrach to gradually raise flows in the Transmed pipeline starting this year and reach 9 bcm of extra gas per year by 2023-24.

Ecological Transition Minister Roberto Cingolani told Italian TV 3 bcm of that would come on line immediately.


Follow us on Twitter @AzerNewsAz


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.