The president of Aragelia, Abdelmadjid Tebboune, announced this Monday (07.18.2022) in Algiers that an agreement worth 4,000 million dollars “will allow Italy to supply very large quantities of natural gas” will be signed tomorrow, Tuesday.
Tebboune announced during a joint press conference with Italian Prime Minister Mario Draghi that “an important agreement will be signed tomorrow with the American, Italian and French companies Occidental, Eni and Total, respectively.”
The Algerian president opted to renew with his “friend President Draghi the proposal” for Italy to be one of “the providers of solar and conventional electricity in Europe.” The North African country has displaced Russia as Italy’s main gas supplier, which seeks to further reduce its independence from Moscow.
Draghi, on an official visit to Algiers to participate in the IV Italo-Algerian intergovernmental summit, confirmed “a privileged partnership” in the energy sector.
In recent months, Algeria has become Italy’s main gas supplier and the announcement of 4,000 million cubic meters of gas in recent days represents “an acceleration compared to what was expected” by the agreements and “anticipates supplies even more conspicuous in the years to come,” Draghi said.
The Algerian hydrocarbon company Sonatrach announced three days ago that it will increase its gas shipments to Italy starting next week with an additional 4 billion cubic meters, in addition to the nearly 14 billion supplied so far this year.
The increase represents 113 percent of the expected volumes and the Maghreb country hopes to increase to 6,000 million cubic meters before the end of the year to “further strengthen historical ties.”