Italian Prime Minister Mario Draghi will travel to Algiers tomorrow, Monday, where he will meet with President Abdelmajid Tabun, his services announced on Saturday, as Rome seeks to end its dependence on Russian gas, especially in large quantities. .
Mr. Draghi will be received at 14:30 for talks at the presidential palace with Mr. Tabun, who will host a formal dinner in the evening.
Before the head of the Italian government, the trip was made on February 28 by Foreign Minister Luigi di Mayo, who discussed with his counterpart the increase of gas supplies from the North African country to Italy, to compensate for their reduction by the Russian side.
“The Italian government has pledged to increase energy supplies, especially gas, from various international partners, including Algeria,” which has always been a reliable supplier, “the Italian foreign minister said at the time.
Algeria is the second largest gas supplier to Italy, behind Russia.
Algerian giant hydrocarbon company Sonatrach announced in late February that it was ready to increase gas supplies to Europe, mainly through the Transmed pipeline, which connects Algeria with Italy.
Sonatrach “has untapped capacity in the Transmed pipeline”, so it could “increase deliveries in the European market”, assured its president and CEO Tufik Hakar. Europe is “the natural market of choice” for Algeria, which currently has about 11% of its gas imports, he added.
Mr Di Mayo was accompanied by a multi-member delegation, including Claudio Descalci, president and CEO of the Italian public hydrocarbon company ENI, which has an extensive presence in Algeria and is a partner of Sonatrach.
Italy, which imports about 95% of the gas it consumes, is one of the European countries with the highest dependence on Russia.
About 45% of the peninsula’s gas is imported from Russia. In addition to Algeria, Rome could also increase its supplies from Azerbaijan, Tunisia and Libya, according to the Italian government.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
