Algeria is to increase the export of natural gas to Italy by 8 billion cubic meters per year, according to an agreement signed in Algiers Wednesday by the two countries.

At present, Algeria, which abounds in natural gas reserves, exports some 24 billion cubic meters of natural gas to Italy every year, accounting for 40 percent of the European country's overall natural gas consumption.

The increased export will be transported to Italy through an undersea pipeline that is under construction, according to the agreement that was signed between Algeria's state-run Hydrocarbon Company and five Italian energy companies on Wednesday.

Algerian President Abdelaziz Bouteflika and Italian Prime Minister Romano Prodi, who arrived here on Tuesday for a two-day official visit to Algeria, attended the signing ceremony.

The two leaders also exchanged views on strengthening bilateral economic and trade relations and energy cooperation.

Source: Xinhua