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- Algeria and Italy are in talk to import more gas from the former to make up for the possible decline from supply from Russia. In this regard, Italian Foreign Minister Luigi Di Maio discussed the issue with the Algerian authorities
- Italy is wanting to strengthen the bilateral cooperation with Algeria to meet its energy security needs against the backdrop of the growing tension between Russia and Ukraine and the spill over to other countries in the region and polarization
- A number of western countries imposed economic sanctions against Moscow triggered by the Russian invasion on Ukraine.
Algeria and Italy are in talk to import more gas from the former to make up for the possible decline from supply from Russia. In this regard, Italian Foreign Minister Luigi Di Maio discussed the issue with the Algerian authorities. Italy is wanting to strengthen the bilateral cooperation with Algeria to meet its energy security needs against the backdrop of the growing tension between Russia and Ukraine and the spill over to other countries in the region and polarization.
A number of western countries imposed economic sanctions against Moscow triggered by the Russian invasion on Ukraine. The Italian foreign minister, who is now in Algeria did not indicate the quantum of increase of import of gas from Algeria but indicated that his government was committed to increase energy supplies from the North African country, including gas, from various international partners, including Algeria. Russia is the largest supplier of gas to Italy, followed by Algeria.
Sonatrach, the Algerian state owned hydrocarbon company said it was ready to provide more gas to Europe, including through the Transmed pipeline linking Algeria to Italy. The Algerian company has unused capacity on the Transmed pipeline”, which could be used to increase supplies to the European market. Algeria contributes 11% of Europe’s gas requirements.
The foreign minister was accompanied by a delegation, which consisted of Claudio Descalzi, CEO of the Italian hydrocarbon giant Eni, which is a joint venture partner of Sonatrach. Very soon, it is expected, Italy will start importing more gas from Nigeria to reduce its dependence on Russia. Italy imports about 95% of the gas it consumes, and that way is heavily dependent on Russia. Other EU countries like Germany, France etc are also dependent on Russia but to a lesser extent. Europe imports over 45% of its gas requirements from Russia. The conflict would force the EU to tap gas supplies from countries like Algeria, Azerbaijan, Tunisia and Libya.
