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Algeria, Italy negotiate increase of gas supplies

algeria-italy-negotiate-increase-of-gas-supplies

Algeria, Italy negotiate increase of gas supplies

Algiers, Mar 2 (Prensa Latina) The Algerian and Italian governments entered into negotiations for the supply of gas from the North African country to Europe, official sources reported today.
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The contacts were established by a delegation headed by the Italian Foreign Minister, Luigi Di Maio, and by the president of the Algerian state oil company Sonatrach, Toufik Hakkar, who said that the Transmed pipeline has idle capacities that can be used to increase fuel supply.

Algeria is the second largest supplier of gas to Europe after the Russian Federation, which is subject to punitive measures by the European Union, the United States and Asian countries after the start of the special military operation over Ukraine on Thursday last week.

Official statistics put Algeria’s share in the supply of fuel to Europe at 11 percent.

The head of Italian diplomacy, who arrived in this capital on Monday, stated in social media that the talks with the Algerian side will be focused “on strengthening bilateral cooperation, in particular to meet the needs of European energy security”.

He also described Algeria as a “reliable supplier”.

The punitive measures imposed by the European Union and Washington against Moscow drove Brent oil prices to more than 113 dollars a barrel while the gas needed to produce one MWh reached 194.72 euros (216.13 dollars), according to the Dutch TTF trading platform.

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