Italy is actively seeking to bolster its energy supplies amid soaring domestic energy costs, which have reached their peak in two years, according to Emanuele Orsini, President of Confindustria. In a recent dialogue with Argentine President Javier Milei in Buenos Aires, Orsini emphasized the urgency of securing additional energy resources to maintain the competitiveness of Italian businesses.
The discussions were described by Orsini as constructive, underscoring the significant similarities between Italy and Argentina. He highlighted the escalating energy prices as a considerable threat, advocating for enhanced energy trade between the two nations to mitigate these challenges. “We need to buy energy,” Orsini stated, pointing to the mutual benefits of such a partnership.
A key focus of the meeting was Argentina’s Vaca Muerta shale formation, which holds substantial oil and gas production potential. This area could emerge as a crucial source of energy exports, offering Italy a viable option to diversify and secure its energy needs.
Beyond energy, the dialogue also explored wider trade opportunities and the development of supply chains that could reinforce economic relations between the countries. Currently, the Argentine market is valued at approximately $1.2 billion for Italian companies. However, Orsini expressed optimism that this figure could expand to around $7 billion in the coming years, indicating significant growth potential.