UAE plans to diversify energy resources

By Indo Asian News Service | Saturday, November 09, 2013 | 7:20:09 PM IST (+05:30 GMT) Comment 0 Comment

Abu Dhabi, Nov 9 (IANS/WAM) The United Arab Emirates (UAE) Minister for Energy Suhail bin Mohammed Faraj Faris Al Mazroueihas said that the country is working on diversifying its energy sources.

Abu Dhabi, Nov 9 (IANS/WAM) The United Arab Emirates (UAE) Minister for Energy Suhail bin Mohammed Faraj Faris Al Mazroueihas said that the country is working on diversifying its energy sources.

He was quoted Saturday as saying that a strategic plan was in place to produce an energy mix where nuclear power accounted for 25 percent, renewable energy for 5 to 7 percent, and natural gas for 67 to 70 percent of the total demand for power.

Minister Al Mazrouei told WAM that the Abu Dhabi National Oil Company (ADNOC) is working on increasing its oil exports to 3.5 million barrels a day, and its onshore and offshore sour gas production, through projects worth more than $70 billion as part of Abu Dhabi Economic Vision 2030.

Commenting on the consequences of the Arab Spring on the energy sector in the Middle East, the UAE energy minister emphasised the urgent need for a clear and diversified policy for the sector to enable the regional countries to ensure a better future for the coming generations through sustainable development and welfare.

Asked if he sees any effect on the UAE from shale gas production, the minister said: "As a producer, we cannot ignore this effect, but rather than considering it as a rival, we see it as a complementary source that helps meet the increasing global demand."

The minister's comments came ahead of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2013) which runs Nov 10-13 in UAE capital Abu Dhabi.

--IANS/WAM

ab/vm

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