Gas agreement Algeria – Italy: details of the contract Eni – Sonatrach

The head of the Italian government, Mario Draghi, met President Abdelmadjid Tebboune during an official visit yesterday, Monday April 11, 2022. A meeting which took place at the Presidency of the Republic. Algeria and Italy have signed several contracts and agreements. The gas supply was obviously at the heart of the meeting.

It is in this context that the Algerian company, Sonatrach, and the Italian company, Eni, have signed an agreement which will make it possible to exploit the available transport capacities of the gas pipeline, to ensure greater supply flexibility. And this, by gradually supplying increasing volumes of gas from 2022. A volume of up to 9 billion cubic meters per year, expected in 2023 and 2024.

In the presence of Algerian President Abdelmadjid Tebboune and Italian Prime Minister Mario Draghi, the President of Sonatrach, Toufik Hakkar, and the CEO of Eni, Claudio Descalzi, signed yesterday, Monday April 11, 2022 in Algiers, an agreement which will allow Eni to increase the quantities of gas imported via the TransMed / Enrico Mattei gas pipeline. And this, within the framework of the long-term gas supply contract, which will be set up with Sonatrach from next autumn. This only confirms the strong cooperation between the two countries.

The signing of this contract took place during the meeting between the Italian Prime Minister, Mario Draghi, and the President of the Republic, Abdelmajid Tebboune, this Monday, April 11, the latter also including a broader letter of intent aimed at strengthening the cooperation of the two countries in the field of energy. The latter was signed by Algerian Foreign Minister Ramtane Lamamra and Italian Foreign Minister Luigi Di Maiovisant on behalf of their respective governments. And this, in the presence of the Algerian Prime Minister, Aimene Benabderrahmane, the Algerian Minister of Energy, Mohamed Arkab, and the Italian Minister of Ecological Transition, Roberto Cingolani.

The agreement between Eni and Sonatrach, the foundations of which were laid during the previous visit of Claudio Descalzi and Italian Foreign Minister Luigi Di Maio to Algiers on February 28 of the current year, has been defined and signed in record time following intense negotiations between the top management of the two companies. The new gas volumes covered by the agreement are also the result of the close collaboration in the development of upstream gas projects, taking advantage of Eni’s distinctive fast lane model, which brings a significant acceleration to the production potential. Algerian fields.

Eni CEO thanks Algerian institutions and Sonatrach

The CEO of Eni, Descalzi, did not fail to thank the Algerian institutions and Sonatrach and commented saying: “Today is a special day for relations between Italy and Algeria, especially for Eni and Sonatrach: thanks to the long-standing close collaboration between the two companies, it was possible in a short time and with a huge joint effort to sign this important agreement which further consolidates the partnership between the companies and strengthens the cooperation between our country “.

It should be recalled that the Italian company, Eni, has been present in Algeria since 1981. With a capital production of 100,000 barrels of oil equivalent per day, it is the main international energy company in the country. In addition to its ambitious exploration and development program, Eni is evaluating opportunities in the fields of renewable energies, hydrogen, CO2 capture, use and storage and biorefining, in line with its commitment to achieve carbon neutrality by 2050.

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