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The Italian energy group Eni had agreed to acquire BP’s business in Algeria, including two major gas fields. It would acquire BP’s stakes in the In Salah and In Amenas gas fields in southern Algeria. The move is aimed at increasing gas production
The Italian energy group Eni had agreed to acquire BP’s business in Algeria, including two major gas fields. It would acquire BP’s stakes in the In Salah and In Amenas gas fields in southern Algeria. The move is aimed at increasing gas production.
CEO Claudio Descalzi traveled to Algeria together with top Italian government officials earlier this year to sign contracts. The move would enable Italy to increase its sourcing of energy needs from Algeria to replace the Russian supply. Eni holds long-term gas contracts with state-owned energy giant Sonatrach.
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Western countries, on account of the disruptions caused due to the Russia-Ukraine war, have been facing acute energy crises. They were mostly dependent on Russia for sourcing energy needs.
