North African nations, including Algeria, Egypt, and Libya, are set to become Italy’s primary gas suppliers for the foreseeable future, according to a statement from Eni’s Head of Natural Resources. The energy company, Eni, has plans to heavily invest in Africa, focusing on exploration and new low-carbon projects.
Last year, Eni reacted swiftly to the decline in Russian gas supplies by increasing shipments from Africa to Italy, a shift made possible by the company’s long-standing presence on the continent. This strategic move resulted in Algeria surpassing Russia as Italy’s largest gas supplier.
Eni’s Natural Resources Chief Operating Officer, Guido Brusco, emphasized the need for substantial investment in Africa, not only in traditional exploration and production but also in preparing for increased gas exports to Italy, serving the African market, and facilitating additional gas shipments to Europe. He noted that while cleaner energy sources are being developed, approximately 80% of global energy demand is still based on fossil fuels. This makes it crucial to manage the reduction of oil and gas production, especially in Africa, where the population is growing, and development is accelerating.
In the coming years, Eni expects the roles of Algeria and Egypt to solidify as key gas suppliers to Italy, with the potential for Libya to play a larger role, along with several sub-Saharan countries, including the Republic of Congo and Angola. Eni’s multi-billion-dollar investments in the region are geared towards ensuring stable gas exports to Italy while catering to the growing energy needs of the African market.
