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Algeria President To Sign USD4bn Gas Deal w/3 Firms To Supply Italy

ITALY

Wires reporting that Algerian state media has stated that Algerian President Abdelmadjid Tebboune is set to sign an agreement worth USD4bn with Occidental, ENI, and Total to provide Italy with natural gas.

  • Comes as Italian PM Mario Draghi and other senior Cabinet ministers visit the north African state to finalise a deal that will assist in diversifying Italy's energy mix away from Russian natural gas.
  • Wires also carrying comments from Draghi: ""15 agreements between our 2 countries, from renewables to major works, from the fight against corruption, to the construction of roads and highways...In recent months Algeria has become the first gas supplier of our country. In recent days, the Algerian company Sonatrach has announced the upcoming release of 4 billion cubic meters of gas to Italy as part of the agreement signed with Eni in April."
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