Arab Today, arab today uae to cut 3b costs by 2030
Last Updated : GMT 16:55:22
Arab Today, arab today
Arab Today, arab today

UAE to cut $3b costs by 2030

Arab Today, arab today

Arab Today, arab today UAE to cut $3b costs by 2030

Abu Dhabi - Arabstoday

The UAE can reduce its energy costs by up to $3 billion (Dh11 billion) a year by 2030 through implementation of energy efficiency technologies, according to a study by Oliver Wyman, a global management consulting firm. Driven by increased population and escalating commercial and residential demand for electricity, especially in the summer, the Gulf states have become significant consumers of oil, says the study. Since natural gas supplies no longer meet local energy demand, the region's oil exporting countries have started to tap into money-generating fuel oil reserves, which is impacting both local economic growth and global energy security, the study noted. It said by 2030, assuming constant electricity production costs, the UAE can save 51 per cent of the energy used in the residential sector, 38 per cent in the commercial sector and 11 per cent in the industrial sector. "The time is ripe for Mena (Middle East and North Africa) countries to take a closer look at energy efficiency technologies and programmes," said Marc Hormann, Oliver Wyman partner and co-author of the study. "Even moderate adoption of proven energy efficiency measures could reduce energy demand by one-quarter to one-half in the year 2030, greatly freeing up capital." Khalid Malallah Al Awadi, a UAE energy expert, told Gulf News a re-evaluation of the use of natural gas for crude oil production enhancement by the UAE can help conserve a lot of energy and enable production of electricity at a lower price. "As well, the use of insulated doors, windows, roofs and walls, use of district cooling instead of window air conditioners, use of low wattage high luminous lights instead of halogen or sodium light bulbs can significantly increase energy savings," he added. It is estimated that in the Gulf Cooperation Council (GCC), an investment of $125 billion will be needed to meet growing demand for power over the next decade, which is estimated to rise an average of eight to 10 per cent per year. Of the UAE's current electricity generation capacity, almost 85 per cent of the power generated is gas-based, and the other plants are oil-fired. Nearly all of Abu Dhabi and Dubai's electricity comes from gas-based stations.                                                From gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae to cut 3b costs by 2030 Arab Today, arab today uae to cut 3b costs by 2030

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae to cut 3b costs by 2030 Arab Today, arab today uae to cut 3b costs by 2030

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb

GMT 23:44 2017 Saturday ,03 June

OPEC daily basket price for Tuesday, 30th May 2017
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday