Since the beginning of the year, Algiers has delivered to Rome 13.9 billion cubic meters of gas, exceeding the volumes initially planned by 113 %. With AFP
The Italian Prime Minister, Mario Draghi, was received Monday July 18 in Algeria by President Abdelmadjid Tebboune, with whom he co-chaired the fourth Algerian-Italian summit. MM. Tebboune and Draghi signed fifteen memorandums of understanding and agreements concerning the supply of Algerian gas to Rome, but also justice, micro-enterprises and start-ups, industrial cooperation and sustainable development.
Algeria, which maintains privileged relations with Italy, “has become its first gas supplier in recent months” after having been preceded by Russia for a long time, from which came 45 % of the gas imports of the peninsula , said Draghi before the media, alongside Mr. Tebboune. “The agreement signed on energy cooperation testifies to our determination to do even more in this area,” he said later during a bilateral economic forum.
Several countries have turned to Algeria to reduce their dependence on Russia since it invaded Ukraine in late February. In front of the media, Mr. Tebboune announced the signing on Tuesday “of an important agreement, amounting to $ 4 billion [3.9 billion euros]”, between the American, Italian and French groups Western Western Petroleum, Eni and Total, “which will provide Italy in large quantities of additional gas”. This contract will make it possible to “develop a deposit located within the perimeter of Berkine [in the Sahara], which must produce more than a billion barrels” of hydrocarbons, told AFP a government source.
Algeria will also increase its gas deliveries to Italy by exporting some 4 billion additional cubic meters in the coming days, said the same source. Since the beginning of the year, Algeria has provided Italy 13.9 billion cubic meters, exceeding the volumes of initially planned by 113 %. It plans to deliver it a total of an additional 6 billion cubic meters by the end of 2022, according to the official Algerian agency APS. 2>
8.5 billion dollars in exchanges in 2021
The Eni group, present in Algeria since 1981, manages with the Algerian giant of hydrocarbons Sonatrach the Transmed gas pipeline, which connects the country to Italy via Tunisia. It can transport up to 32 billion cubic meters of gas per year and, until recently, Algeria had 22 billion cubic meters per year passed there, which leaves a margin of 10 billion, according to the Abdelmajid expert Attar, former Algerian energy minister.
The agreement for an increase in volumes delivered to Italy had been announced by Mr. Draghi during a first visit to Algiers in April, but no figure had been communicated. Eni had only mentioned the use of “available transport capacities of the gas pipeline [transmed] to ensure greater flexibility in energy supply and gradually supply growing gas volumes from 2022 [in order to arrive] at 9 billion of cubic meters of gas [additional] per year in 2023-2024 “. The gas contract between the two countries was renewed in May 2019 for a period of eight years, until 2027, in addition to two additional optional years.
Between Algeria and Italy, trade exceeded $ 4.3 billion over the first five months of 2022, said Algerian Prime Minister Benabderrahmane, at the opening of the bilateral economic forum . “Algeria is Italy’s first trading partner for the regions of Africa and the Middle East,” he said, recalling that last year, the exchanges had reached $ 8.5 billion , “an amount called to increase this year”. The Head of Italian diplomacy, Luigi Di Maio, hoped that “the areas where our countries can collaborate [can still widen and diversify”, delighting Algerian commitments to “improve the business climate” for investors.