#Drags limbo in europe fate daylight series

“That bodes well for more cooperation in the years to come,'' Draghi said, adding that the two nations also saw prospects for working together on renewable energy.

#Drags limbo in europe fate daylight series

In Algeria, several Italian ministers signed a series of memos of understanding in areas ranging from pharmaceuticals, research, anti-corruption efforts, security as well as energy sectors. There are fears a major pipeline between Russia and Germany that closed for scheduled maintenance last week will not turn back on in retaliation for sanctions over the war. Leaders have been pushing to fill underground gas storage to try to avert a worsening energy crisis when the cold months arrive. The 27-nation EU now is bracing for the possibility of a complete Russian cutoff of natural gas that powers industry, generates electricity and heats homes in winter. “This is good news for our supplies of gas this winter and beyond,” von der Leyen said.Įurope has been scrambling to secure alternative energy sources as Russia's war in Ukraine and Moscow's drawdown or cutoff of natural gas flows to a dozen EU countries have triggered soaring energy prices, inflation and growing expectations of a recession. The bloc said the agreement also has guarantees for green energy supplies. With the tentative agreement, the EU wants to double the gas imports from Azerbaijan within half a decade. The same day, EU Commission President Ursula von der Leyen was in Azerbaijan to clinch a deal with President Ilham Aliyev on increased gas supplies from the former Soviet republic. The French economy ministry didn't release details on the deal as President Emmanuel Macron hosted Sheikh Mohammed bin Zayed Al Nahyan in Paris. “Algeria is a very important partner for Italy, in the energy sector, in the industry and business fields, in the fight against criminality, and in the search for peace and stability in the Mediterranean,” Draghi said.Īlso Monday, France and the United Arab Emirates signed an agreement on energy cooperation to ensure oil and natural gas supplies from the Gulf country. Algerian President Abdelmadjid Tebboune said a $4 billion deal would be signed Tuesday to supply “a significant quantity of gas.” With his government's fate in limbo back home, Italian Premier Mario Draghi visited Algeria’s capital of Algiers, seeking to cement the North African country’s role as a preeminent regional partner. ROME - European leaders ramped up their push to secure alternative energy supplies Monday as fears escalate of a complete natural gas cutoff by Russia, with the leaders of Italy, France and the European Union sealing deals with their counterparts in Algeria, Azerbaijan and the United Arab Emirates.