Economy
Italy Agrees Further Gas Supply Deal With Algeria

A looming recession that is brought into effect by the Ukraine-Russia conflict has resulted in a dearth of gas resources (imported from Russia) in Europe – and as nations look to curtail the consequences of the pandemic, Italy has reportedly fortified its gas deal from Algeria.
The news comes as European countries look for alternatives to Russia for gas supplies. Italy, in particular, had decided to become independent of gas from Moscow following the onset of conflict.
The Russians previously pumped 29 billion cubic metres of gas a year to Italy.
“In recent months, Algeria has become the main gas supplier for our country,” Italian Prime Minister Mario Draghi said in Algiers after a meeting of ministers from both governments.
Algeria has now pledged an additional 4 billion cubic metres to the 21 billion cubic metres of gas a year already agreed.
Algeria supplies the gas via the Transmed pipeline, which runs through the Mediterranean to Sicily. Italy has also secured gas deals with Qatar and Azerbaijan, among others.
Gas was not the only issue on the agenda. Algerian President Abdelmadjid Tebboune expressed satisfaction with 15 other agreements signed with Italy in areas including renewable energy, construction, and the fight against corruption.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Education2 months ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Banking & Finance2 months ago
Bank Muscat organises Media Visit to showcase Premier Banking and Wealth Management Solutions
-
Digital1 month ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
Energy2 months ago
Oman Investment Authority launches the Sultanate’s First Energy Transition Fund
-
Business2 months ago
Need to rebuild trust and collaboration says Alexander Stuglev, Chairman & CEO of the Roscongress Foundation