ALGIERS, April 11 (Xinhua) -- Algeria and Italy are set to boost their energy cooperation after inking two cooperation agreements on Monday here.

The first agreement, signed between Algerian energy giant Sonatrach and Italian company Eni in the presence of Algerian President Abdelmadjid Tebboune and visiting Italian Prime Minister Mario Draghi, aims to speed up the development of Algeria's natural gas production projects by increasing gas exports to Italy.

The agreement confirms close cooperation between the two companies in the exploration and production of hydrocarbons, renewable energy such as solar energy, hydrogen, biofuels, as well as the capture, storage and use of carbon dioxide, said a statement from Sonatrach.

It also confirms Eni's desire to continue its investment and strengthen its presence in Algeria, said the statement.

The two side also agreed to further boost energy cooperation under another agreement signed by Algerian Foreign Minister Ramtane Lamamra and his Italian counterpart Luigi Di Maio.

During his visit here, Draghi stressed the "deep and historical" relations that unite the two countries. Algeria is Italy's first trading partner in Africa, and bilateral trade has been growing, he said.

By signing the agreements with Algeria, Italy is seeking to avert the risks of the Ukraine crisis, he added.

The two countries are also striving to enhance relations in other areas, as Algerian president is set to visit Italy in May, among other exchanges, said the prime minister.

Sonatrach and Eni established commercial relationship in 1977. During the last two decades Sonatrach has supplied Italy with a total volume of more than 300 billion cubic meters of natural gas.

Italian Ambassador to Algeria Giovanni Pugliese said that one third of the gas used in Italy comes from Algeria, while more than 200 Italian companies are now operating in Algeria.

During the first quarter of 2021, Italy was the biggest market for Algerian gas exports, with a total volume of 6.4 billion cubic meters, up by 109 percent compared to 2020.

Sonatrach and Eni manage the Trans-Mediterranean gas pipelines "Transmed", which links Algeria to Italy via Tunisia, with an annual export capacity of 32 billion cubic meters of gas.

Last month the two companies announced the discovery of an important oil field containing approximately 140 million barrels of crude oil.

In late 2021 the two companies signed an investment contract worth about 1.4 billion U.S. dollars, with the aim of producing 45,000 barrels of hydrocarbons a day, in addition to a strategic agreement in developing renewable energy.

The two companies are currently working on a total of 12 projects in the exploration and production of hydrocarbons.

Two-way trade between Algeria and Italy in 2020 amounted to about 6 billion U.S. dollars.