Fifth MED & Italian Energy Report: geopolitics and new technologies
SRM, research centre related to Intesa Sanpaolo, is presenting to the European Parliament the Fifth MED & Italian Energy Report, entitled "Geopolitics of energy in the Mediterranean area between international crises and new energy commodities".
This year's Report focuses on the impacts that geopolitical phenomena and the introduction of new technologies are having on energy scenarios, with particular regard to the Euro-Mediterranean area: Italy and its ports can play an increasingly important role by acting as energy hub for Europe.
The Report was prepared with support from the Fondazione Compagnia di San Paolo and in scientific synergy between SRM and the ESL@Energy Center of Turin Polytechnic, with the participation of the Matching Energies Foundation.
5° MED & Italian Energy Report - Highlights
- Europe is more efficient in energy use than China and the United States. The EU, with a total consumption of 58 Exajoules, generates a GDP of almost $17 trillion. China, with the same GDP, consumes almost three times as much energy, at about 159 Exajoules, while the US is in the middle at 96 Exajoules of consumption and a GDP of $25 trillion.
- Europe is the area of the world with the greatest level of energy dependency (55.5%); the figure drops to 20% for China and is 0% for the USA, which is totally self-sufficient;
- In the energy mix for electricity production in Europe, the use of coal decreased from 31% to 16%, whereas the share of natural gas increased significantly from 12% to 20%. Renewable energies dominate, rising from 15% to 38%.
- Gas imports from Russia were 41.1% for pre-war Europe (2021), down to 10% in 2022 and further to 6% in the first nine months of 2023.
- Italy is the country in Europe with the greatest level of energy dependency at 73.5%. France, which uses nuclear power, has a dependency level of 44.2%.
- Italy has significantly increased the use of gas and renewables for electricity generation; they account for 54% and 35% of the electricity mix, respectively.
- Italian imports of Russian gas from the TAG pipeline decreased from 28.4% in 2020 to 2.4% in the first ten months of 2023. Gas imports from Algeria via the Transmed pipeline increased from 12% in 2020 to 20.2% in the first ten months of 2023. A full-fledged Algeria-Russia substitution effect. This also marked a shift in the energy centre of gravity from the East to the South, restoring centrality to the Mediterranean.
- Ports are increasingly important: they are becoming true hubs for energy and digital as well as for logistics. Fossil energy terminals, pipeline landfalls and energy communities near energy-intensive industries can contribute actively to global decarbonisation efforts.
- Projects focusing on innovation, strengthening the industrial chain and reducing pollution go hand-in-hand with the Italian port sector's long-standing emphasis on energy: 34% of traffic is made up of energy products (over 169 million tonnes).
Download the summary of the Report.
Last updated 15 December 2023 at 14:02:58
