afrol News, 3 May - Algeria has been ranked as the first supplier of gas to Italy in 2006, officil figures show.

The company says 33 percent of the European country’s gas needs were derived from Algeria. This shows an increase of 3.5 percent over the 2005 figures.

As a major market for Algerian natural gas export, Italy imports 27 billion cubic meters per year from the country.

Italy imports 30 percent of its natural gas from Russia.

Algeria and Italy signed five agreements on the marketing of the North African country’s natural gas with Italian companies in November last year. This happened during a visit by the Italian Prime Minister, Romano Prodi, to Algeria.

The agreements involved the building of a gas pipeline that links Algeria and Italy through Marseille. Algeria is also obliged to increase the exportation of gas to Italy by 8 billion cubic meters per year.

Consequently, Italy raised its importation of hydrocarbon from Algeria by 30 percent in 2006. This amounted to over US $10 billion.

The trade between the two countries has increased by 28 percent in 2006.

By staff writer

© afrol News

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