Algerian President, Abdelmadjid Tebboune announced that the North African country is planning to offer its spare electricity capacity to Europe after energy supplies from Russia were shut down amid the Ukraine war.
While speaking with reporters, the president said the country is planning a 270 km undersea pipe towards Italy.
“Algeria is also pushing to double its gas exports to reach 100 billion cubic metres per year versus 56 billion cubic metres per year in 2022,” Tebboune added.
Russia, which used to be the top exporter of gas to the EU, has turned off the taps in retaliation for a series of crippling sanctions against it designed to deplete its income used for its war.
Algeria holds an estimated 159 trillion of proven gas reserves, ranking around 10th in the world in terms of gas resources.