Eni's number one, Paolo scaroni, intervened at the opening of the work on new global energy scenarios at the Atlantic Council. “Energy and geopolitics have always been linked to each other: the United States, Russia and North Africa are among the protagonists of this historical period”. So Scaroni opened his speech.
The United States is at the center of the evolution of world energy scenarios. The shale gas revolution in America, as Scaroni explained, has changed the dynamics of global competition. “The good news for the United States is that they can count on all the energy they need at unbeatable prices – said Scaroni – But what is excellent news for America is not so for our Europe”. European industry must compete with US industry "which pays a third less for gas and less than half for electricity".
Another fundamental theme is the evolution of North Africa. Scaroni said that, despite the political and civil difficulties, this part of the world is becoming a strong and thriving region. Algeria is about to face new presidential elections; “it has solid institutions and, with well-managed oil wealth, it will be able to better face its future”. Egypt "has a strong middle class on its side that will support its stabilisation". Libya, according to Scaroni, is the country that is in the most difficult period; “is building a state after 40 years of dictatorship” but has many strengths to leverage.
And Europe? According to Eni's CEO, Europe must reinvent itself. Our industry could benefit from US shale gas prices when it is exported. "But that's not enough." “If Europe aspires to an industrial renaissance – said Scaroni – it must invent a new energy deal”. The priority is shale gas which probably exists in Europe and in significant quantities; then it would be important to improve the exploitation of conventional hydrocarbons. Without forgetting, recalls Scaroni, that Italy "should strengthen political ties with its gas suppliers: Algeria, Libya and above all Russia".
