ECONOMY

Algeria's gas supply to Italy to hit 25 billion m3 by year-end

ALGIERS-Algeria, which is bound by "privileged" relations with Italy, intends to increase its gas supply to the latter to more than 25 billion m3 by the end of the year, said the Ministry of Energy and Mines in a statement.

The recent meetings between Algeria's President, Abdelmadjid Tebboune, Italy's President, Sergio Matarella, and the President of the Italian Council of Ministers, Mario Draghi, sealed a partnership agreement on energy.

With 17.8 billion m3 of gas delivered to date, Algeria which "fulfills its commitments towards Italy," has become Italy's leading gas supplier.

"Ten (10) billion cubic meters of additional gas will be delivered to Italy in the coming months," said the same source.

Banking on gas production increase and the latest discoveries by Sonatrach, Algeria "will further strengthen its position as Italy's leading gas supplier, as decided by the two presidents," said the statement.