The prospect of an energy independent future could be on the horizon for the Mediterranean Basin. Interview with the President of OME.
by
Giancarlo Strocchia
30 October 2018
3 min read
byGiancarlo Strocchia
30 October 2018
3 min read
In recent years, the entire the Mediterranean Basin has returned to center stage in the global energy scene. There have been substantial finds of gas and oil in the eastern and offshore regions of Egypt, while an increasing number of North African countries have developed their vast renewable energy potential. This encouraging situation should be supported by a far-reaching action plan for infrastructure development. This is the firm view of Moncef Harrabi, President of the Mediterranean Energy Observatory (OME) and Chairman of the Tunisian Electricity and Gas Company (STEG) as well as President of the association of Mediterranean electricity companies (Med-TSO).
If we truly want to improve the overall energy framework–and I am referring to hydrocarbons, fossil fuels and electricity–it is essential for all the stakeholders involved to collaborate with regional associations such as the Mediterranean Energy Observatory (OME), the MED-TSO (Mediterranean Transmission System Operators) and the Maghreb Electricity Committee (COMELEC). We need to build a solid infrastructure system, and also think about developing the potential of our natural gas fields and, why not, to transition to liquefied natural gas (LNG), if we really want to reduce emissions.
Do we wish to become a relatively energy independent region? If we do, then we need to be farsighted and also focus on electricity and improve our interconnections to facilitate exchanges. In North Africa we can exploit wind and solar power, while European power stations are mostly traditional. We could take advantage of this in the summer, when there is a huge energy demand for air-conditioning, while Europe could benefit from it to produce heating during the winter months while we still have plenty of sunshine and wind.
We need to be complementary in our energy transition and move in lockstep. We must also commit to translating our projects into reality. We have talked a lot and have conducted many studies; it’s now time to put into practice what we have outlined and to build solid infrastructures, as I pointed out earlier. We must also safeguard the planet, especially for future generations, reducing air emissions and greenhouse gases.
There is already ongoing energy collaboration with various partners, but we intend to enhance it. We rely very much on the European Commission, for example, to promote and finance interconnection projects, such as the strategic link between Italy and Tunisia. This will connect North Africa and Europe via Italy and will require an investment of around 600 million Tunisian dinars. So we are asking European countries to subsidize us, at least partly, to enable its construction.
I would urge European countries to come to Tunisia, to North Africa, and invest in renewables. There are countless opportunities. Tunisia alone has the potential to generate 1,800 megawatts in solar energy. In Libya, Algeria and Morocco, too, as well as in African countries more generally, the energy potential is huge. In the future, I’d say in 50 years’ time, the cost of a kilowatt-hour will drop and renewables will be increasingly important, partly as a result of energy storage. If we can improve storage technology the problem will be solved. We need to be farsighted and safeguard the planet. The future is in renewable energy, but even more so in energy efficiency.
This website uses cookies to show you adverts and offer you services customised according to the preferences you have shown while browsing online. For further information please refer to our cookie policy.
THIS WEBSITE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OR IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR FOR THE ACCOUNT OR BENEFIT OF ANY U.S. PERSON AS THAT TERM IS DEFINED IN THE SECURITIES ACT (A "U.S. PERSON"), AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD REQUIRE THE APPROVAL OF LOCAL AUTHORITIES OR OTHERWISE BE UNLAWFUL (THE "OTHER COUNTRIES"). THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR PURSUANT TO THE CORRESPONDING REGULATIONS IN FORCE IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE “OTHER COUNTRIES” AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. NO PUBLIC OFFERING OF SUCH SECURITIES IS INTENDED TO BE MADE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN THE “OTHER COUNTRIES.”
In any Member State of the European Economic Area ("EEA"), the information contained in this website is only directed at and may only be communicated to persons who are "qualified investors" ("Qualified Investors") within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation").
The information to which this website gives access is directed only at persons (i) who are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons, or in the EEA, with Qualified Investors. Any person who is not a relevant person, a Qualified Investor or otherwise permitted under applicable law or regulation to access the information, should not act or rely on the information contained herein.
Confirmation of Understanding and Acceptance of Disclaimer
These materials are for informational purposes only and are not directed to, nor are they intended for, access by persons located or resident in the United States, Australia, Canada, Japan or South Africa or any of the Other Countries. I certify that:
I am not resident of, or located in, the United States, Australia, Canada, Japan or South Africa or any of the Other Countries or I am not a U.S. Person; or
If I am a resident of, or located in, the EEA, I am a Qualified Investor within the meaning of Article 2(e) of the Prospectus Regulation; or
If I am a resident of, or located in, the United Kingdom, I am a Qualified Investor and a relevant person.
I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms and I am permitted under applicable law and regulations to proceed to the following parts of this website.
WARNING: the above certification constitutes a "self-certification" pursuant to Decree of the President of the Italian Republic No. 445 of 28 December 2000. False certifications are punishable by law.
