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Saudi Arabia Intends to Transform Regional Energy Sector


Tue 15 Jan 2019 | 11:35 PM
Norhan Mahmoud

By: Norhan Mahmoud 

DUBAI, Jan. 15 (SEE)- Saudi Arabia’s Energy Minister Khalid Al-Falih announced today his country’s plan to establish a prolonged gas network in cooperation with the United Arab Emirates (UAE) and Oman, as means to put the kingdom’s gas reserve to good use.

Al-Falih’s voiced his remarks on the sidelines of the UAE’s Abu Dhabi Sustainability Week, pointing out that these proposals come amidst Saudi Arabia’s efforts to lessen its oil production and develop itself into a global hub for renewable resources.

As per reports, such persification in the country’s energy field will be backed by the tender of at least 12 new energy projects this year- no further information is known about the tenders.

The minister said that by 2030,a fall of 1.5 million to 2 million barrels of oil equivalent per day is foreseen in Saudi Arabia’s energy consumption due to the country’s shift in gasoline and electricity prices.

In 2018, both the energy demand across the kingdom has fallen as a result of the reforms carried out by the government to change the local consumers’ behavior. The gasoline consumption, for example, was 8% lower than 2017 and electricity depletion also reduced.

Al-Falih stressed that in the upcoming years his country aims to level up its share of gas capacity by 20% to reach 70% besides terminating liquid burning in its utilities.