Italy has signed an $8 billion gas agreement with Libya during a visit by Italian Prime Minister Georgia Meloni for talks on energy and migration.
The agreement was signed by Libya's National Oil Corporation and Italy's Eni. The two companies said they would invest $8 billion in gas development as well as solar energy and carbon, Reuters reported.
According to the Associated Press, the natural gas deal between the two countries is the largest single investment in Libya's energy sector in more than two decades.
Eni CEO Claudio Descalzi has strongly supported Europe's appeal to Africa to meet its energy needs.
Earlier this week, Meloni visited Algeria, Italy's main gas supplier, where Eni and Sonatrach, the Algerian state energy company, signed a new cooperation agreement aimed at strengthening energy security and stepping up efforts to reduce carbon emissions.
Algeria became one of Italy's main strategic partners last year after replacing Russia as the largest energy supplier to the European country.