A deal to buy additional natural gas will be signed by Italian Premier Mario Draghi in Algeria, the latest effort by a European Union country to acquire alternative energy sources to reduce its reliance on Russia. Almost 40% of Italy’s total imports come from Russia, followed by Algeria, which provides about 21 billion cubic meters of gas via the Trans-Mediterranean pipeline.
A new deal with Algeria would add an additional 9 billion cubic meters of gas to Russia’s 29 billion cubic meters a year. A deal between Italy and Algeria is the first concrete result of a series of missions undertaken by Italian foreign ministers to energy-producing nations to secure alternate sources of energy, including Azerbaijan, Qatar, Congo, Angola, and Mozambique. Luigi Di Maio, Roberto Cingolani, and Claudio Descalzi, the CEO of Eni, are accompanying Draghi on the trip.
Last month, Eni announced the discovery of a significant oil and gas field in Algeria and stated it would work with Algerian partner Sonatrach to fast-track the development of the field for the third quarter of this year. Eni has been operating in Algeria for more than 40 years.