Italy is looking for alternatives to Russian gas

Draghi will travel with a delegation that is expected to include Italian Energy Group chief Eni Foreign Minister Luigi Di Maio and Energy Transition Minister Roberto Cingolani, a government source said.

Italy, which accounts for about 40 percent of Russia’s gas imports, has struggled to diversify its energy supply as the conflict in Ukraine intensifies.

Earlier this week, Cingolani said Italy was in talks with seven countries to get more gas, with some talks “at a very advanced stage,” Reuters reports.

Di Maio and Eni CEO Claudio Descalzi have both visited Algeria in recent weeks to discuss strengthening energy ties.

Algeria is Italy’s second largest gas supplier, and the Transmed pipeline has been transporting Algerian gas to Italian shores since 1983. It has a daily capacity of more than 110 million cubic meters, but currently carries less than 60 million cubic meters.

Growing domestic consumption, insufficient investment and political instability, including the closure of a pipeline to Spain over a dispute with Morocco, have limited Algerian exports.

But last year, Italian imports rose 76% to 21.2 billion cubic meters, 29% of total flows. Rome says it wants to get another 9 billion cubic meters from the North African country.

“Draghi will sign the institutional agreement between the countries, and then Eni and Sonatrach will finalize the technical aspects”, the quoted source mentioned.

(source: AFP)

Source: Jurnalul by

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