GCC set to invest $50b in energy sector to meet growing demand

Abu Dhabi: A British expert in energy production said Gulf Cooperation Council (GCC) countries will need an estimated 100,000 megawatts (MW) of additional energy in the next 10 years to meet the rising demand.

Bill Walker, director of Pennwell Corporation, which organises energy exhibitions, said, “With demand for energy growing at a rate of five per cent annually, the GCC countries plan to invest $50 billion in the energy sector.”
Walker added that energy corporations and institutions in the UAE and GCC countries will participate in the 12th Middle East Energy Conference (Power-Gen 2008), to be hosted by Bahrain from February 4-6.
Walker noted that while five per cent of the world’s population lives in the Middle East, the region owns only one per cent of water resources.

Increased consumption
He added that consumption of water has increased in the GCC countries over the last five years, “hence, there is a need for additional investment to construct water network pipelines and treatment system for sewage water”.
Walker added that the three-day conference will have over 3,000 Arab and foreign energy professionals to discuss the future of power and water in the region.
This year’s conference, will be held under the theme ‘The challenges of feeding a growing demand’.
The event is renowned for attracting some of the region’s and the world’s leading industry figureheads, to participate and make presentations.
As a key forum for senior executives and industry leaders, Power-Gen Middle East is the place to meet and discuss a range of topics, from energy markets, latest technologies and issues relating to power generation, transmission and distribution.

(Gulf News)


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