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Italy Moves to Boost Energy Cooperation Plan with Africa

Italy Moves to Boost Energy Cooperation Plan with Africa

Somto NwanoluebySomto Nwanolue
3 years ago
in News
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A management structure comprising of politicians and state-controlled companies will be leading the Italian government’s plan to increase energy cooperation with African countries and aid in reducing mass illegal migration, according to a draft decree revealed on Thursday, November 3.

The project, a flagship proposal of Prime Minister Giorgia Meloni, has already been named after the founder of state-controlled oil and gas major–Eni, Enrico Mattei.

The draft decree –expected to be endorsed by the cabinet on Friday, by Italy– will aid African countries in areas not excluding education, exports, infrastructures, health and sustainable exploitation of natural resources.

Meloni had previously stated that the project would aim to turn Italy into a key energy centre, distributing gas from North Africa and the Mediterranean to the rest of Europe, while addressing the root economic causes of heightened migration from Africa.

Italy, once despairingly reliant on Russian gas has managed to limit its dependence since Russia’s invasion of Ukraine and at present, most fuel imports come from North Africa through several shippers including Eni, playing a vital role in helping Italy establish the Mattei plan.

Arrivals of boat migrants have skyrocketed this year, with almost 144,600 individuals coming ashore against an estimated 86,400 in the same period in 2022, greatly crushing an electoral pledge to stop the landings.

The draft said the Mattei Plan would last four years and envisage differentiated strategies for separate areas of the African continent.

The prime minister will supervise the administration in charge of the project, however, representatives from state lender Cassa Depositi e Prestiti (CDP) and state-owned credit agency, SACE will also be invited.

Italy, which will replace the presidency of the Group of Seven, G7, nations in 2024 with the promise to make Africa a foremost theme while it is at the helm.

Tags: management structure comprising of politicians and state-controlled companies will be leading the Italian government’s plan to increase energy cooperation with African countries
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Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

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