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The Global Energy Prize annually honors outstanding achievements in energy research and technology from around the world that are helping address the world’s various and pressing energy challenges.

SPIEF-2018: the economy of trust between Russia and Italy

Within the framework of the St. Petersburg International Economic Forum, the round table "Russia-Italy" and the session "Italian technologies for a new quality of life" are scheduled with the participation of the former Minister of Education of Italy, the Global Energy Prize expert Francesco Profumo.

The key theme of SPIEF 2018 – “Creating an Economy of Trust” reflects the development path of the Russian-Italian relationships. According to the adviser to the President of the Russian Federation Anton Kobyakov, "Italy is one of Russia's strategic partners. Regardless of the world political situation, the business of our countries is aimed at active and productive cooperation. The confidence in business is a key indicator in constructive dialogue between countries".

According to Francesco Profumo, Russia's investments are primarily essential in the energy sector. “In 2015, energy import from Russia amounted to 20.4% of international import and 17.2% of European import. This exceeds the import of energy from Saudi Arabia by 5.5 times. In particular, the share of Russian gas in Italy's import is 45.1 % of all its consumed blue-sky fuel, and oil accounts for 15.9 %of total supplies”, - earlier mentioned the expert.

Which Italian technologies will have crucial significance for a new quality of life, Francesco Profumo will discuss at the relevant session on May 23 within the framework of the 6th Russian Small and Medium-Sized Enterprises Forum. The agenda of the session includes discussion of technologies in the field of energy storage, waste processing, construction technologies, renewable energy sources, as well as projects for processing nuclear waste.

It is worth noting that Francesco Profumo leads one of the largest Italian private foundations, Compagnia di San Paolo, with a capital of about EUR 7.5 billion. The purpose of the foundation is long-term investments, not only in commercial projects, but also in education, healthcare, and culture. The foundation also undertakes projects in the sphere of small and medium business.

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