When Enrico Letta, President of the Italian Council of Ministers landed in Mexico, he arrived with the idea of seeking new opportunities in the Mexican market, and found several in the energy sector.
Two months after Letta's visit, a delegation of 18 Italian companies came to Mexico to realize some of these opportunities.
Finding oil and gas in 'difficult' locations is the Italians' specialty. "We were not blessed with a Cantarell, so we had to go to deep water," said Paolo Zegna, president of the internationalization technical committee of the Confederation of Italian Industry (Confindustria).
Mexico is in the plans of Italian investors, said Alberico Peyron, president of the Italian Chamber of Commerce in Mexico (CCIM), at the end of last year.
The Italian oil company, Eni, became an expert in exploration and production in unconventional sites, and around its activity several specialized suppliers developed, such as Saipem (design and construction of oil pipelines), Bellelli Engineering (design and equipment of plants for oil production, treatment and refinery), Sicim (oil pipelines) and Pilosio (structures for the construction of platforms).
Mexico did not attract Eni's attention, nor that of its suppliers. Operations were concentrated in Africa, and in Latin America business was concentrated in Brazil, Ecuador and Venezuela.
The opening of the Mexican energy sector, however, opened up a range of possibilities for Italian investors. Proof of this is that some service, product and infrastructure suppliers are attentive to the direction of the Energy Reform and are awaiting the publication of the secondary laws in order to close deals.
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Zegna said that companies could come alone or in a joint venture with companies established in the country. This will depend on whether the secondary laws establish minimum regional content.
Within the delegation of Italian industrialists are 12 companies that manufacture technologies for the generation of solar, hydroelectric and geothermal energy.
"We are encouraged by President Enrique Peña Nieto's pronouncement to promote renewable energies," said Zegna.
The federal government's proposal is that by 2024, 35% of electricity generation will be made from renewable sources, and Italian companies are sharpening their sights to find opportunities
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Source: MANUFACTURA