Italy is the third largest supplier to UAE’S oil and gas industry

Italy’s oil and gas exports to the UAE represents 10per cent of the global market…reports Asian Lite News

With a value of almost Euro 135 million (annual Avg), Italy is the 3rd largest supplier of components to the UAE’s oil and gas industry, making up 10% of global exports in the sector. With a strong trade relationship with the UAE, Italy is showcasing 130 specialized companies at the Abu Dhabi International Petroleum Exhibition & Conference 2021 (ADIPC 2021), this week.

The official Italy country Pavilion (28 companies) is organized by the Italian Trade Agency (ITA) in cooperation with the Embassy of Italy in the UAE, the Consulate General of Italy in Dubai and Italian associations ANIE- National Federation of Electrotechnical and Electronic Companies, ANIMA- Federation of Italian Associations of Mechanical and Engineering Industries, ANIMP – Italian Association of Industrial Plant Engineering and FEDERTEC- Italian Association of Mechatronic Technologies and Components for Fluid Power, Power Transmission, Smart Automation and Control of Industrial Products and Processes.

Italian expertise on display at the ADNEC Abu Dhabi National Exhibition Centre includes manufacturers of valves, pumps, turbines, actuators, welders, compressors and pressure equipment.

ADIPEC 2021 is the first global energy forum post the pandemic to discuss the key decisions from the UN climate meeting, COP26, which took place in the UK earlier this month. This week’s forum will provide the thought leadership, direction and strategies that will shape the strategic and policy responses for the oil and gas industry as it pivots to deliver net-zero energy.

HIS EXCELLENCY NICOLA LENER, AMBASSADOR OF ITALY TO THE UAE: “Italy is continuing its drive for international expansion across multiple sectors, including smart and prudent investment in oil and gas, to remain a leader in the sector. With the increasing drive to push towards renewables, increased hydrogen uptake and a carbon neutral future, Italy’s investment in R&D will enable the country to remain at the forefront of this exciting transition. Many of the Italian companies who are joining us this week at ADIPEC, stand out for their technological leadership and they are helping to identify opportunities that will unlock new value in an evolving energy landscape.”

Amedeo Scarpa, Italian Trade Commissioner to the UAE continued, “Italian expertise in the energy sector is renowned and appreciate all over the world. Italy is in fact, among the main suppliers of components to the UAE’s oil and gas sector. In the 1st semester of 2021, exports of Italian components to the UAE were valued at Euro 69 million, and for the same period in 2019, it was Euro 49 million. This shows that Italy has completely recovered its position after the pandemic, and the strength and reliability of our UAE Italy win-win trade relations are again stronger than ever in this sector.”

Commenting on the participation to ADIPEC, Maria Antonietta Portaluri, General Director ANIE, said “With a trade balance in surplus of about 500 million euros, the UAE represent a strategic area for the internationalization of Italian electrical engineering and electronic companies who look, in particular, to the Oil & Gas market. ADIPEC is a showcase of excellence for Made in Italy technologies, involved in recent years in a process of renewal of the product portfolio in response to the new challenges of the scenario. This role is even more important in the current recovery phase – after the dropdown caused by the Covid crisis – which sees the start of new investments at a global level also in the Oil & Gas sector.”

ANTONIO CAREDDU, PRESIDENT ANIMP: “The Italian industrial plants and related components and services industry, which overall approaches 200 B€ in revenues and employs over 500,000 people worldwide, views the UAE as one of its most important global markets. Traditionally very active in huge oil&gas, refining, petrochemicals, power and generally infrastructural projects, in recent years our industry has appreciated the increasingly active involvement of the Emirates also in renewable energies and in other most advanced market segments. Indeed, we commend the UAE industry for being at the absolute forefront of most modern trends. Furthermore, our industrial establishment has also complied – and indeed encouraged – the application of various aspects of the In-Country Value programs . ADIPEC is a major reference point to our Companies, a stalwart event of our industry and for our specialized players, so we are delighted to be able participate also this year, now that the Covid restrictions have eased.”

Bruno Fierro, Vice-President for Internalization ANIMA, about the important role of the Italian Pavilion said “The Italian Pavilion at ADIPEC is an important opportunity of growth for our companies and a good example of cooperation between ITA and ANIMA. To be at ADIPEC is a concrete opportunity to get in touch with major players in the Oil & Gas sector at the most important world fair. Participation is always at a high level, and particularly significant this year of EXPO in Dubai and the resumption of international activities after the lockdown.”

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“FEDERTEC – Italian Association of Mechatronic Technologies and Components for Fluid Power, Power Transmission, Smart Automation and Control of Industrial Products and Processes – is proud to represent and promote the Italian companies in ADIPEC 2022 a very interesting chance for the Italian companies to establish new commercial relationship and to show the most innovative products and technologies, so promoting the “Made in Italy” also in this important industrial sector” concluded Marco Ferrara, Managing Director FEDERTEC.