Since the invasion of Ukraine by Russia, Italy has embarked on a diplomatic offensive in Africa to get out of its dependence on Russian gas.
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Italian President Sergio Mattarella met his Mozambican counterpart Filipe Nyusi in Maputo on Tuesday, July 5, for discussions centered on gas exploitation and supply. Rome is seeking to reduce its energy dependence on Russia. The visit comes as natural gas production off Mozambique by Italian energy giant Eni, which heads the 6.2 billion euro project, is due to start this semester. “The upcoming start of liquefied natural gas exports from the Coral Sul site, managed by Eni, is an important milestone that shows how valuable our cooperation is,” said the Italian president.
The Coral-Sul Ship (link in English), the first offshore natural gas liquefaction platform deployed in the deep waters of the African continent, with an annual production capacity of 3.4 million tonnes, arrived off the coast of Mozambique in January. A major jihadist attack in March 2021 in the north-east of the country suspended the gas race for the world giants in the sector. The French TotalEnergies has suspended until further notice a project weighing 16.5 billion euros. But Eni, by betting on the liquefaction of gas in the open sea, seems to be doing well and has maintained its production targets. Last month, the company confirmed progress in installing its platform.
Since the invasion of Ukraine by Russia, Italy has embarked on a diplomatic offensive in Africa to get out of its dependence on Russian gas. Agreements have been signed with Congo, Angola and Algeria. Algiers, which is currently its second supplier, already contributes around 30% of its consumption. According to Eni, the agreement signed with the Algerian national company, Sonatrach, will increase gas deliveries through the Transmed submarine gas pipeline “up to 9 billion additional m³ per year” by 2023-2024. This diversification nevertheless has a significant cost: in order to be able to import more LNG, Italy plans to buy or lease floating storage units.
Italy is one of the largest European gas consumers, 95% of its needs are imported, 45% of which from Russia.