Algerian President Abdelmadjid Tebboune began a two-day state visit to Italy on Thursday. An opportunity to strengthen ties between the two Mediterranean countries in terms of gas and electricity delivery.
” Thanks to Italy, we will be able to supply Europe with electricity “, welcomed Abdelmadjid Tebboune alongside his Italian counterpart Sergio Mattarella, after their meeting at the presidential palace of the Quirinal. A submarine cable is thus planned between the Algerian and Italian coasts, reports our correspondent in Rome, Eric Senanque.
The Algerian President’s visit then continued at the Chigi Palace, the seat of the Presidency of the Council, where he was received by Mario Draghi. The opportunity to sign numerous energy cooperation agreements.
Three billion cubic meters of gas per year
The Italian Eni and the Algerian Sonatrach will thus increase the development of gas fields in Algeria. Thanks to the Transmed gas pipeline, Algiers should be able to export 3 billion m3 of gas per year to Italy, an essential step for Rome to reduce its dependence on Russian gas. Eni and Sonatrach should also work on decarbonization. The two companies have announced the development of a pilot project for the production of “green hydrogen” on the site of an oil well that they co-operate in the southern Algerian desert.
The Algerian President’s state visit to Italy will end this Friday in Naples where he will travel alongside Sergio Matteralla who described this visit as a “ solid friendship sign between the two countries.
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Mario Draghi and his head of diplomacy Luigi Di Maio have visited Algiers successively in recent weeks. The letter of intent signed Thursday represents a further step in strengthening energy cooperation between Italy and Algeria and is in line with Eni’s strategy to diversify its energy sources “, underlined the Italian group in a press release.
Italy imports 95% of the gas it consumes, of which about 40% came from Russia in 2021. Algeria, one of Italy’s main trading partners, is its second gas supplier. The gas sales contract between the two countries was renewed in May 2019 for a period of eight years until 2027, with two additional optional years.