In a statement to Reuters, it was stated that Algeria will supply 4 billion cubic meters (bcm) of gas to Italy this year, in addition to the 21 billion cubic meters planned earlier this year.

The source said that state oil producer Sonatrach plans to start increasing supplies to Italian customers, including Eni, next week. Tighter global energy markets have increased demand for Algerian gas.

Sonatrach is already an important gas supplier to countries including Italy, Spain and Portugal, and stated that it is reviewing gas prices with all its customers to take advantage of the appropriate market.

Algeria to Provide Italy with Additional Gas Official Source Says | Devamı>>>

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Gas prices will remain high until 2026 at least. Europe wants to rapidly minimize the 150 Bcm of Russian imports that meet about one-third of its demand. There’s nowhere near enough alternative gas supply available for the next four years until new volumes of LNG from the US and Qatar become available.

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Natural gas supply is set to rise incrementally in the coming years, before jumping in 2025, analysts told CNBC. But analysts are divided on whether demand will continue to outstrip supply in years to come.

The current gas crisis will likely repeat itself again, said Richard Gorry, managing director of JBC Energy Asia. “ This will be a crisis that is reoccurring over the next three or four years — simply because we don’t have a lot of new natural gas supply coming into the market in that period, ” he told CNBC’s “Capital Connection” in mid-October.

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