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14 Feb Italy Set to Sign Natural Gas Deals with Azerbaijan
Italy is set to sign a contract for the purchase of natural gas turbines from Azerbaijan in 2023, as reported by Reuters on February 11. The agreement will include the delivery of multiple units to be used for power generation in Italy. The deal is expected to help improve energy security and stability for Italy, as the country is looking to diversify its energy sources. Azerbaijan, which is one of the largest suppliers of natural gas in Europe, has been actively seeking to expand its market reach in the region. This agreement with Italy is expected to strengthen the existing relationship between the two countries in the energy sector.
The announcement follows Italy’s recent agreement worth USD 8 bn for natural gas production with Libya last month, aimed at increasing energy supplies to Europe. The deal will see Italy receive natural gas from the North African country. The agreement will also include a framework for joint exploration and production of oil and gas in the region. This move is in line with Italy’s efforts to secure a steady supply of energy to meet the country’s growing demand.