Governance

Algeria, Italy ink 5 deals to boost bilateral cooperation

Algeria and Italy signed five memoranda of understandings on Monday to boost bilateral cooperation during Italian Prime Minister Giorgia Meloni’s visit to the North African nation.

Two MoUs were signed between Algeria’s Sonatrach and Italian energy giant Eni for future joint projects on energy supply, energy transition and decarbonization.

Other deals focus on boosting partnership between Algeria’s largest employees’ organization and Italy’s Industry Confederation and space cooperation for peaceful purposes.

The agreements were inked in the presence of Meloni and Algerian President Abdelmadjid Tebboune.

Algeria replaced Russia as Italy's number one energy supplier, transporting natural gas by pipeline across the Mediterranean.

Last year, Algeria and Italy signed a deal to supply an additional nine billion cubic meters of gas by 2023-2024, which Eni said was worth $4 billion.

*Ikram Imane Kouachi contributed to this report

Source: Anadolu Agency