UAE Ministry of Energy achieves important shift in activities to serve energy sector and national economy through participation in WFES: Report

ABU DHABI, 31st January, 2016 (WAM) – The Ministry of Energy, through its active participation in the Abu Dhabi Sustainability Week (ADSW) and the most prominent event, The World Future Energy Summit (WFES) 2016, achieved a quality and quantity shift in major tasks being carried out recently by its evolving strategy in dealing with oil and gas sectors at both local and global levels. The UAE remains highly important, thanks to its huge oil and gas reserves, and the global industry's need for these two commodities, as well as the significant role it plays in the Organisation of Petroleum Exporting Countries (OPEC), and the Organisation of Gas Exporting Countries. The UAE makes crucial contributions in ensuring adequate supplies to global markets, especially of crude oil, and to achieve stability and balance in the global oil market, according to the Ministry of Energy's report. The Ministry of Energy report says that the ministry has played a prominent role in achieving the goals associated with the oil and gas industry and electricity, through its active and influential presence in regional and global conferences and meetings, which significantly affect these sectors. The ministry’s activity saw recently an important development reflecting its commitment mainly in the interests of national economy, and the citizens and residents of the country, in accordance with the UAE Strategy 2021 and Abu Dhabi Vision 2030. This important shift in the activity of the ministry has been linked recently to the liberalisation of fuel prices (diesel and gasoline in all types), where it has conducted with its partners numerous studies that have crystallised in the final version of the decision issued by the cabinet to form a committee from the Ministry of Energy and the Ministry of Finance and basic distribution companies, to determine the price of a gallon of diesel and gasoline on the 28th of every month, to be announced on the 1st of the following month. The Minister of Energy, Suhail Mohammed Faraj Fares Al Mazrouei, confirmed on the first day of the World Future Energy Summit that the UAE has become an important and influential global hub in the field of energy. The Abu Dhabi Sustainability Week (ADSW) is one of the most important international gatherings that offers innovative solutions in the field of sustainable and renewable energy. The ADSW is a global platform that addresses the interconnected challenges that affect the widespread acceleration and adoption of sustainable development and clean energy. To seriously address the global energy challenge, the relationships between economic development, poverty eradication, energy security, water scarcity and climate change cannot be overlooked. "The strong interconnect between the growth of world demand for energy and achievement of economic prosperity is primarily based on technological advancement, which allows wider applications of creative solutions to the many challenges facing investment in energy," he said at the launch of Abu Dhabi Sustainability Week (ADSW) at the Abu Dhabi National Exhibition Centre. Al Mazrouei said, "The UAE is keen to set up national integrated policies that strike a balance between a sustainable development policy and energy projects, which form the lifeline to economic and social growth, development and prosperity." The minister stressed the need for developing innovative technology to promote and deploy clean, sustainable and renewable energy, and practical solutions to the challenges in areas of carbon dioxide emissions, and climate change. Dr. Matar Hamed Al Neyadi, Under-Secretary of the Ministry of Energy, emphasised the importance of accomplishing the energy balance in the planning process and setting up of policies related to the energy sector in the country, as well as identifying sources of greenhouse gas (GHG) emissions and sectors that require a reduction in consumption. Fatima Al Foora Al Shamsi, the ministry's Assistant Under-Secretary for Electricity, Clean Energy and Desalinated Water Affairs, said that the developments in the energy sector at the global and local level require analysis and data audit of data energy through energy balance, which would be supported by the concerned authorities by planning for the energy sector. She said, "We are proud of preparing the first balance sheet for energy in the UAE, which will be updated on an annual basis." Ministry of Energy Launches UAE Carbon Atlas Project The Ministry of Energy has launched the UAE Carbon Atlas project, which aims to monitor sources of GHG emissions produced by sectors such as energy, industry, agriculture, land use change and waste, across the emirates. Launched during the Abu Dhabi Sustainability Week 2016, the initiative will generate reports on GHG emissions and statistical reports on the index of average carbon dioxide (CO2) per capita. It will also highlight the UAE's initiatives and practices to reduce carbon dioxide emissions so as to maintain the country’s leading position in tackling climate change. Al Mazrouei, said the project will be carried out in partnership with all relevant stakeholders as part of the national efforts to deliver the UAE Vision 2021 and sustainable development. ''Phase I will focus on accurate collection of data from different sectors to measure GHG emissions and is expected to be completed in the second quarter of the current year,'' he added. According to the second UAE Greenhouse Gas inventory released by Ministry of Energy, the power generation and water desalination sector has emerged as the largest emitter, accounting for 35 percent of the UAE's total greenhouse gas emissions in 2014. ''Industry accounted for 16 percent of the country's total greenhouse gas emissions, being the second largest emitter, followed by transport at 15 percent,'' said Under-Secretary of the Ministry of Energy, Mattar Hamed Al Neyadi. – Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395290899788.html