Algeria To Increase Gas Exports To Italy

ALGIERS, (UrduPoint / Pakistan Point News - 12th Apr, 2022 ) :Algeria will increase its gas exports to Italy as part of agreements signed between the two sides on Monday to strengthen their energy cooperation, said the Algerian presidency.

In an agreement signed between Algerian energy giants Sonatrach and its Italian counterpart Eni, the two sides agree to accelerate the pace of development of natural gas production projects and increase Algeria's gas exports to Italy via the gas pipeline Transmed.

This agreement also confirms the "close" cooperation between the two companies in the field of renewable energy, such as solar energy, hydrogen, biofuels, and the capture, storage and use of carbon dioxide.

Under the agreement, Italian company Eni will continue its investments and strengthen its presence in Algeria.

The commercial relationship between Sonatrach and Eni was established in 1977. Sonatrach has supplied Italy during the last two decades with a total volume of more than 300 billion cubic meters of natural gas.

Foreign ministers of the two countries also signed a joint declaration strengthening cooperation in the energy field.

Italian Prime Minister Mario Draghi is currently on an official visit to Algeria aiming to strengthen cooperation between the two countries.