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Crude oil, the SIOT of Trieste "is worth" 247 million euros each year

TRIESTE - The SIOT (Italian transalpine oil pipeline company) of Trieste is worth every year between 247 and 282 million euros for the territory of Friuli Venezia Giulia, where it generates 580 jobs.

The data emerge from a study commissioned by the TAL Group to the MIB Trieste School of Management, intending to verify the economic role of the company that manages the Italian section of the Transalpine Pipeline. The overall economic impact was calculated by adding the direct, indirect and income-induced impact, and calculating the percentage of this impact that remains on the regional territory. The direct impact, consisting of turnover, in 2018 is 84.5 million euros. The indirect impact (sum of purchases generated by SIOT suppliers and the regional economic system, as a result of the presence and activity of SIOT) is 122 million euro. The sum of the direct and indirect impact (206.5 million euros) is 88% to the advantage of economic organizations in Friuli Venezia Giulia. Finally, the induced impact was determined (effect on the territory defined by the expenses made by income earners from work and capital, generated directly and indirectly by SIOT). This impact, calculated prudently taking into account only the costs incurred by income earners, refers to a value between 40.4 and 75.8 million euro. The calculation model used also showed a total amount of 580 employees for the SIOT, of which 460 are indirect and 120 are direct. In conclusion, the overall estimated economic impact of SIOT was, therefore, in 2018, equal to a value ranging between 246.9 and 282.3 million euros.
The pipeline starting from the Port of Trieste passes through Italy, Austria and Germany. TAL covers 40% of Germany's oil energy needs (100% in Bavaria and Baden-Württemberg), 90% in Austria and 50% in the Czech Republic. To transport the same amount of crude oil that is moved through the transalpine pipeline, it would need an average of 10,000 tank trucks per day.