Saipem e Maire Group, home companies, have signed in recent days in United Arab Emirates contracts for 18 million euros to extract gas. It is the largest contract signed with Italians to take fuel from deep depths in the Emirates and build 300 kilometers of pipelines submarines. The two companies will work both onshore and offshore.
It's a great opportunity as the gas demand has increased worldwide and producing countries are preparing to strengthen supply in the coming years. New conduct: the sheikhs are in the game, Italy helps them. It certainly has little or nothing to do with the Mattei Plan so dear to him Giorgia Meloni.
IEA report: 140 billion cubic meters by 2025
According to the latest IEA report, the demand for gas in the world will increase by 140 billion cubic meters by 2025. Natural gas is also the source that will accompany the energy transition in industrialized countries. The mix of renewables and fossils is a constant in all scenarios. USA and Europe are the concrete example of a green aspiration slowed down by the needs of the large manufacturing industry to still have oil or gas. The reasons for such a large investment are all in the demonstration of leadership of the "alternative" countries to Russia. Italian pride for the technologies offered coincides with a vision complementary to that only green.
Towards Cop Dubai 2023
A confirmation of gas demand forecasts will take place at the UN climate conference in Dubai in the Emirates in November. Is the announcement towards Italian companies strategic? We rely on those with experience to have competitive certainty in the medium term. According to many, the conference in Dubai is a very serious contradiction between the planet to be saved and the smoking chimneys like in the early days of industrialization. But we have already seen how issues are managed at international summits situations bordering on paradox.
It is clear, at this point, that all the known gas deposits in the world must be exploited. The contract of Italian companies in the Emirates is the reflection of an incredible business in the era of energy transition.
The development of the Hail and Ghasha fields is a small medal that the United Arab Emirates puts on its chest as it diversifies the energy sector. As of October 2022, they have secured 0,1 billion cubic meters of liquefied gas for Austria, equal to 1% of all gas consumed in the country. In the same period, Germany was guaranteed an equal supply and always to make up for imports from Russia.
Long-term energy mix
Il role of fossil sources arriving from the sheikhs on international markets is almost stable. The new supplies give them a growing role in geopolitics because according to recent estimates by the IEA, in the United Arab Emirates there are reserves for six trillion cubic meters of gas. Nonetheless, they no longer intend to be criticized for climate decline by selling polluting sources.
In summary, they do nothing but satisfy global energy demand with what they have in abundance. Who wouldn't do the same? For this reason, attention must be paid to the economic and financial potential. The reason? An epochal paradox: the countries that pump oil and gas could prove to be the most effective in the transition, ensuring balance in the "mixture" of traditional and renewable energies. With Italian companies at the center of an unwanted process where their skill excels.
