Algeria and Italy signed 15 major deals during a business summit between the two nations in Algiers. A new contract to supply gas worth $4 billion was also signed. This deal will make Algeria the biggest gas supplier to Italy.
“Algeria has long been a key country for our energy supplies. The agreement signed on energy cooperation shows our determination to achieve even more in this sector.”, said Italian Prime Minister Mario Draghi. While his counterpart, Aïmene Benabderrahmane added his country would work to “strengthen partnerships and investments, particularly in the oil, gas and mining production sectors” with Italy.
Agreements on sustainable development, micro-enterprises and justice were also put in place. All these deals were facilitated by a new Algerian law encouraging foreign investment.
According to Africa News, since the beginning of the war in Ukraine, Rome has increasingly turned to Algeria to reduce its dependence from Russia. Algeria is Africa’s biggest gas exporter and provides around 11 per cent of the natural gas consumed in Europe.
