Italy has reduced its supplies of Russian gas to 10% after the new energy deals it struck with Libya and Algeria.
“We used to provide 40% of our gas needs through Russia, and today it has decreased to just over 10%, and thus we have effectively overcome our dependence on Moscow,” Italy’s Minister of the Environment and Energy Security, Gilberto Pichetto Fratin told the Italian newspaper Corriere della Sera.
The minister indicated that the reduction of Russian supplies is offset by the increased gas imports running through the Adriatic Sea from Azerbaijan and Africa thanks to the new agreements with Algeria and Libya.
On January 28, the National Oil Corporation and the Italian energy company Eni signed an agreement to produce eight billion dollars worth of gas to boost energy supplies to Europe.
Prime Minister Georgia Meloni of Italy oversaw the agreement during her visit to Tripoli earlier this year.
The NOC and Eni’s deal allows Libya to increase its gas supplies for the domestic market and boost its exports by developing two offshore gas fields.
According to Eni, the respective fields will start production by 2026 with a daily target of 750 million cubic feet.
Libya exports gas to Italy through the Green Stream pipeline. Eni will have to increase the rate of gas pumping through this pipeline to free itself from Russian imports.