The image shows large oil storage tanks at an African refinery, representing energy infrastructure and fuel storage facilities.
Italy is renegotiating gas contracts with Algeria’s Sonatrach as the Iran war disrupts energy supplies from the Gulf. The crisis has become acute after Iranian missiles struck Qatari facilities, raising fears that QatarEnergy could declare force majeure on long-term contracts—potentially suspending shipments to Italy for up to five years. Italy is Europe’s largest Qatari LNG buyer, making the stakes extraordinarily high. Prime Minister Meloni is heading to Algiers as early as next week, with energy topping the agenda. Algeria, which already supplies around 10% of Europe’s gas imports, is now fielding competing approaches from multiple European nations, including Spain. If negotiations succeed, Algeria could strengthen its role as a strategic supplier while Europe reshapes its energy partnerships in an increasingly uncertain market.
Financial Post