UAE Minister of Energy: Emirates invests US$35 billion to diversify energy sources

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, has affirmed that the UAE is to invest US$35 billion dollars to diversify energy sources and reduce dependence on imports of natural gas to generate electricity. He said that the UAE aims to reduce its dependence on imported natural gas from 100% today to 70% by 2020/1. In a press statement released on the side-lines of the three-day 8th Exhibition of Electrical Industries in the Arab World, EEIAW, which was launched yesterday at the Abu Dhabi National Exhibition Centre, ADNEC, Al Mazrouei confirmed the importance of rationalising energy use and said that there is a generation now with a culture of conservation. He said that the UAE continues to increase its oil production capacity to reach 3.5 million barrels per day by 2017, pointing out that there is no delay in this due to the fall in the price of crude oil. Al Mazrouei also pointed out that the UAE aspires to promote the production of natural gas over the coming years to meet growing domestic demand, stressing the importance of reducing dependence on natural gas imports. Meanwhile, the Minister of Energy officially opened the POWER-GEN Middle East (PGME) Conference and Exhibition with a formal ribbon cutting. The UAE’s Ministry of Energy (MOENR) has officially launched the 8th Exhibition of Electrical Industries in the Arab World (EEIAW).The event, which is taking place in the UAE for the first time, is co-located with the 13th annual POWER-GEN Middle East Conference and Exhibition. Prior to the official ribbon cutting, Al Mazrouei, Dr. Matar Hamed Al Neyadi, Undersecretary of UAE’s Ministry of Energy, Eng. Jamila Youssef Matar, Director of Energy Management at the League of Arab States Egypt and Mr Glenn Ensor Managing Director of PennWell International Power Group, UK, gave their speeches at the joint opening ceremony. Commenting on this occasion, Al Mazrouei said: "The Ministry of Energy is currently collaborating with service providers, to develop an integrated strategy which aims to diversify power sources – through the use of eco-friendly power sources that do not produce any emissions of carbon dioxide ultimately achieving sustainability and reducing costs. In addition, we plan to reduce our reliance on natural gas generate electricity by no more than 70% by 2021." "PGME 2015 and EEIWA has set the ideal platform for industry professionals to discuss strategic issues and find appropriate solutions as well as showcase latest energy solutions and innovations for the Middle East market." he added. The 13th Annual POWER-GEN Middle East Conference and Exhibition, which will run from 4-6 October at Abu Dhabi National Exhibition Centre (ADNEC), is renowned for delivering a world-class quality programme with a focus on practical and technical solutions, presided by over 60 leading industry experts on POWER-GEN Middle East’s Advisory Board. Eng. Jamila Youssef Matar, Director of Energy Management at the League of Arab States, said: "Many Arab countries are currently seeking effective ways to develop electrical industries and equipment. The Arab Ministerial Council has acknowledged the potential for investment in this market hence putting it in the lead of its priorities. Hosting such events are crucial to the industry as they provide opportunities to learn more about the latest industry developments in power generation and all related sectors." Top regional power producing companies Saudi Electricity Company (SEC) and Bahrain Electricity & Water Authority (BEWA) have confirmed participation as Supporting Utilities. Masdar, Abu Dhabi’s renewable energy company and leader in developing some of the most sophisticated renewable energy projects in the world, has announced its participation as the official "Sustainability Partner". TRANSCO, a subsidiary of Abu Dhabi Water & Electricity Authority (ADWEA) responsible for developing, operating and maintaining the high voltage power transmission and bulk water transmission networks within the Emirate of Abu Dhabi, is a ‘Silver Sponsor’. Other confirmed exhibitors and attendees for POWER-GEN Middle East 2015 Conference consists of leading utilities and companies including QUARTZELEC, Chromalloy, Masaood John Brown, Siemens, Ansaldo, Amec Foster Wheeler, Atkins, Lucy Electric and Mitsubishi Hitachi Power Systems. Commenting on the participation, Dominic Buse, Quartzelec’s International Operations Director Middle East, said: "As a local business with a growing customer base in the power generation, oil and gas and utility industries, this is a key event to engage with new and existing customers seeking expertise in High Voltage rotating machines. Our regional strategy includes focusing on the introduction of our highly successful Lifeview condition monitoring products that enhance our repair and maintenance offering, plus the expansion of our facilities here including taking up new workshop locations. – Emirates News Agency, WAM -http://www.wam.ae/en/news/emirates/1395286294406.html