Italy will boost natural gas imports from Algeria as the European country seeks to reduce its dependence on Russian gas following the invasion of Ukraine.
Eni SpA and Algeria’s state energy firm Sonatrach signed a deal during Italian Prime Minister Mario Draghi’s visit to Algiers, as he looks for alternatives to Russian gas that makes up about 40% of the country’s consumption. Draghi and Algerian President Abdelmadjid Tebboune, who will be in Rome at the end of May, also agreed to cooperate on renewable energy investments.
Italy and other European nations are planning to cut their dependence on Russia to isolate the country for its invasion of Ukraine, and also to ensure the security of future supplies. While the EU has banned imports of Russian coal, oil and gas have not yet been sanctioned. Italy has said it would support a ban on Russian gas if the bloc united behind such a move.
Algeria was the biggest provider of gas to Italy after Russia last year.
Also read: Draghi Heads to Algeria as Italy Seeks to Cut Russia Gas Imports
“Our governments have signed a bilateral cooperation on energy,” Draghi said Monday in Algiers.
Algeria sends gas to Europe via three pipelines. Two land in Spain and another, called TransMed, arrives in Italy. One of the Spanish pipelines runs through Morocco and was recently shut off amid a diplomatic dispute between Algiers and Rabat.
