In a recent meeting in Buenos Aires, Confindustria President Emanuele Orsini emphasized the urgent need for Italy to diversify its energy sources due to soaring domestic energy costs, which are at their highest in two years. Speaking to Argentine President Javier Milei, Orsini highlighted the challenges these high costs are creating for the competitiveness of Italian businesses.
Orsini described the discussions as fruitful, noting the strong parallels between Italy and Argentina. He pointed out the potential for enhanced energy trade between the two nations, a move that could alleviate some of the energy burdens faced by Italy. “We need to buy energy,” Orsini stated, underlining the importance of securing alternative energy supplies.
The conversation also touched on Argentina’s Vaca Muerta shale formation, a significant asset with promising oil and gas production capabilities. This resource could play a pivotal role as a major source of energy exports, offering a strategic opportunity for both countries to strengthen their energy ties.
In addition to energy talks, the meeting explored broader trade and supply chain opportunities that could bolster economic relations between Italy and Argentina. Currently, the Argentine market accounts for approximately $1.2 billion of Italian business, but Orsini sees potential for this figure to expand to around $7 billion in the coming years.