North Africa will be Italy's key gas supplier for years, Eni top exec saysMILAN, Sept 12 (Reuters) - Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years, Eni's head of natural resources told Reuters, adding that the energy group would invest heavily in Africa both in exploration and in new low-carbon projects.Last year Eni (ENI.MI), Italy's largest importer of natural gas, reacted fast to a fall in the supply of Russian gas by shipping increasing volumes from Africa to its home country.This shift, made possible by the group's decades-long presence on the continent, has made Algeria Italy's largest supplier of gas, replacing Russia."Africa is a continent where much investment is needed even in the traditional exploration and production business," Eni's Natural Resources Chief Operating Officer Guido Brusco said in an interview with Reuters.In the next few years, the company sees Algeria and Egypt's role consolidating and a potentially larger role for Libya and several sub-Saharan countries, including Republic of Congo and Angola, Brusco said.In this context, Eni is rolling out multi-billion investments to guarantee exports to Italy, serve the African market and get ready to ship more gas to Europe."Fields are declining but 80% of global energy demand is still based on fossils, so while cleaner sources are being developed it's necessary to manage oil and gas reduction... particularly in Africa where the population is growing and development is accelerating," Brusco said.https://www.reuters.com/business/energy/north-africa-will-be-italys-key-gas-supplier-years-eni-top-exec-says-2023-09-12/ (ICE IL CAIRO)

Fonte notizia: https://www.reuters.com/business/energy/north-africa-will-be-italys-key-gas-supplier-years-eni-top-e