HomeNewsItaly's Ansaldo Energia Signs $171 Million Gas Turbine Deal in Azerbaijan

Italy's Ansaldo Energia Signs $171 Million Gas Turbine Deal in Azerbaijan

2/13/2023

(Reuters) — Ansaldo Energia has signed a deal worth more than 160 million euros ($170.88 million) with Azerbaijan's largest electrical power producer Azerenerji to sell four gas turbines, the Italian service provider for the power generation industry said.

The deal was signed in Baku in the presence of Italian Industry Minister Adolfo Urso and Azerbaijan's President Ilham Aliyev.

RELATED: Italy to Sign Gas Turbines Contract with Azerbaijan

Urso, who had announced the deal on Saturday without giving any financial details, was visiting the former Soviet state in the Caucasus region on Monday.

Azerbaijan is one of Italy's most important energy partners.

Ansaldo Energia's four gas turbines will be installed as an additional generating plant at a power station in the city of Mingachevir, the company said on Monday.

Italy is looking for new sources of supply to replace gas imports from Russia and it aims to fully cut its dependence on Russian gas by the end of this year, Urso said on Monday in an interview with daily Il Messaggero.

Italy bought 16% of its gas from Russia last year and 40% in 2021.

Monday's deal comes after Italy last month signed a $8 billion gas production contract with Libya aimed at boosting energy supplies to Europe.

Rome is working to double to 20 billion cubic meters the capacity of the Trans Adriatic Pipeline (TAP), which brings Azeri gas to Apulia in the southeast of Italy.

($1 = 0.9363 euros)

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