The energy that divides, in the various crisis areas of the planet. And the energy that unites, sometimes right in those same areas. Two sides of the same coin that Riccardo Puliti, director general for energy and natural resources of the EBRD (European Bank for Reconstruction and Development) observes every day from a very broad horizon that ranges from the European countries of the former Soviet world , extends towards the East and towards the South of the Mediterranean.
There is no development without energy nor can there be growth without peace and stability. How do they reconcile at a time when the winds of war seem to prevail and the issue of security of supplies is once again at the center of attention?
“There is an energy diplomacy that often precedes actual political diplomacy. I have been able to ascertain this in over twenty years of experience and I could cite several examples. Let's take the recent Russia-Ukraine crisis: in the period of maximum tension in relations and until 15 June, when the negotiations broke down, Moscow supplied Kiev with 7 billion cubic meters of gas which served to fill the stocks at 42,5, 13,5% of the capacity. Now Ukraine can count on XNUMX billion cubic meters and with those it will face the winter”.
Other cases?
"To stay in the area, Crimea is a disputed territory and yet in the last 3-4 months Ukraine has given electricity and gas to the region that otherwise would have remained in the dark".
In fact, therefore, no one feels like pushing the "war" to the end. The EBRD is committed to supporting investments that favor development: in which areas?
“The EBRD is strongly interested in expanding its activity in the energy field in the Mediterranean area. The countries traditionally within our range have been joined by Turkey since 2009 and Morocco, Tunisia, Egypt and Jordan since 2012. From May also Cyprus, both for the Turkish and for the Greek zone. Two other countries have asked to be considered in our perimeter of operations: Libya and Lebanon".
Strategic areas. How do you intervene?
“We invest 2 billion euros a year in the energy and natural resources sector. If, on the other hand, we look at our existing portfolio, we get to almost 9 billion. The electricity sector takes the lion's share with 6 billion. About 2 billion are engaged in oil & gas and 1 billion in mining. We operate both in equity as in the case of the Ogk5 joint venture with Enel in Russia in which we have a 5% stake, and with loans and instruments from a commercial bank. And I'm pleased to recall that we supported Terna and A2A in Montenegro for the new interconnection with Italy and the installation of 140 Made in Italy electronic meters”.
Important figures for the construction of plants and infrastructures. Does the memorandum signed with Ome, the observatory for energy in the Mediterranean, also go in this direction?
"Certainly. In energy we are following two vectors of growth: energy efficiency, especially in Eastern Europe. And security. We are paying close attention to the development of the maxi Leviathan gas field which will change the geopolitics of the eastern Mediterranean, involving Israel, Lebanon and Cyprus and exports to Turkey and Egypt. But we also closely follow the Southern European Corridor and the implementation of the Tap in particular".
