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.
-
Artificial Intelligence1 month agoTop 5 Interesting Things AI Did This Month – September 2026 Edition
-
Fashion3 weeks agoLuxury Watches That Could Appreciate Over the Next Decade [2026 Auction Buyer Guide]
-
Economy3 weeks agoOER Magazine September Edition 2026
-
Banking & Finance1 month agoThe GCC’s 10 Richest Billionaires: Inside US$253.5 Billion of Wealth
-
Magazines2 months agoOER Magazine July Edition 2026
-
Magazines2 months agoAl Mar’a Magazine July 2026
-
Banking & Finance1 month agoINVESTIGATION: What If You Bought Apple Stock Every Time You Bought an iPhone?
-
Alamaliktistaad Magazines2 months agoAlam Al-Iktisaad Magazine July 2026 Edition
