Watch: Malta Will Expand Its Economic Shores – Here’s How And Why
Finance Minister Clyde Caruana spoke in Parliament about the potential establishment of an Exclusive Economic Zone in waters been 12 and 25 nautical miles of Malta’s shores.
He did not cite a specific, decided use for these potential EEZs, but spoke of how many options could lie ahead if Malta is to develop these zones – amongst which were offshore wind, solar, oil or gas energy producing facilities, carbon capture or aqua-culture.
Caruana believes that rather than looking at the country’s economic potential as one limited largely to land-use, Malta could look outwards towards, “a sea which has massive economic potential”.
“The ministry is very interested in EEZs for a variety of reasons,” started the finance Minister.
“Neighbouring countries are moving in this direction. Malta’s continental territory covers around 71,500 square kilometres. Substantial parts of this are contested, Tunisia, Libya, and the Italians have claimed parts of it as their own.”
“But today’s debate excludes these contestationss. It does so because it concerns the zone between 12 and 25 nautical miles, also known as the Fisheries Management Zone, is closer to our shores. This zone contains 7,500 square km, which means that out of the entirety we could be exploring, we’ll only be looking to use 10%.”
“In fact, we won’t even be looking at the entirety of that 10%, because we won’t be using all 7,500 square km, but only parts of it.”
The Prime Minister espoused his support for the idea of establishing an EEZ in Maltese waters last week, and then again this morning. Caruana’s discussion in Parliament followed, when he spoke more specifically about a plethora of options which could be explored for an EEZ – all of which, he said, could provide a massive economic boost.
“If there is anywhere we don’t have real space constraints, it’s in the sea,” said Caruana.
“We have the opportunity for aquaculture. The world’s population is increasing, and that population needs to eat. One of the most nutritious food sources, with the lowest environmental impact is fish.”
“When we implement aqua cultural activities near the shore, people complain. Fish farms can be dirty, and their operation loud, so they’re right to do so. We can move them outwards.”
“We may also be able to use these spaces for carbon capture, taking carbon out of the air and storing it in stone underwater. It will take significant investment to introduce this, but it is a possibility.”
“Fuels of the future may include hydrogen and ammonia. To produce these, you need water. Out there”, said Caruana, gesturing towards the sea around Malta, “there’s as much water as you might want”.
Caruana announced that during the process of researching the possibilities for an EEZ in Maltese waters, the government did not restrict possible submissions, so they could learn about as many possibilities as possible.
When considering the possibility of an EEZ being used as a source of income in seas around Malta, it is somewhat jarring not to have heard much about the environmental impact of exploiting the sea’s economic potential.
Certainly, the sea might appear to be “empty” from a human perspective, but our activity at sea could be extremely disruptive to other species – which have already been hugely impacted by human activity.
Though ideas such as building off-shore wind, solar, or other renewable energy farms, is appealing from the perspective of promoting Malta’s long-term economic viability, it is somewhat alarming to have heard Caruana mention new oil and gas proposals for EEZs – even if they are limited possibilities.
New oil and gas production should not be an option in 2023.
Of additional concern is listening to a politician say that Malta is seeking only to use one small part of the 7,500 square km of FMZ space to establish an EEZ is of potential concern – because sometimes, politicians lie.
If opening one EEZ is proven to be profitable, arguments could be made for a second to be established.
Then a third. Then a fourth.
The actual process of responsible implementation, here, will be paramount to ensure that necessary precautions are taken to protect the environment from Malta’s outward economic expansion.
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