UAE serving triple agenda of supply, growth and jobs

The Mena region will remain at the heart of the hydrocarbon industry, but its future is now much more diverse

By Staff Report

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Published: Fri 18 Oct 2013, 10:49 PM

Last updated: Tue 7 Apr 2015, 8:22 PM

DAEGU - The world’s leading energy exporters must find a way to balance global exports with local growth and job creation, in order to support long term economic and social development at home and abroad, said Dr Thani Al Zeyoudi, director of energy and climate affairs at the UAE Ministry of Foreign Affairs.

The remarks were made during a high level panel held at the World Energy Congress (WEC) in Daegu in South Korea. Entitled ‘Serving a triple agenda - International supply, local energy growth and the need for job creation,’ the discussion sought to address the challenges of balancing the region’s vast reserves of petroleum and natural gas with its high economic and population growth, and increasing energy security pressures.

Dr Thani Al Zeyoudi during panel discussion at the World Energy Congress in South Korea. — Supplied photo

The panel also discussed environmental impact mitigation, and the urgent need for employment through the creation of jobs for the region’s millions of young people. Al Zeyoudi was joined on the panel by Hussain Al-Shahristani, deputy prime minister for energy affairs at the Government of Iraq; John Barry, country chair Abu Dhabi and vice president Abu Dhabi, Syria and Kuwait for Shell Upstream International; Wadie Habboush, president and CEO of Habboush Group; and Kamel Eddine Chikhi, executive director of Sonatrach, Algeria.

Speaking about the UAE’s energy landscape, Al Zeyoudi said the UAE was a regional pioneer in the diversification of its energy sources, which is enabling the economy to transition from one based on hydrocarbon exports to exportable knowledge. “Hydrocarbon investments are more attractive than ever, but we are investing heavily in ensuring we are able to maintain our energy leadership beyond hydrocarbons,” he said.

“The Mena region will remain at the heart of the hydrocarbon industry, but its future is now much more diverse,” added Al Zeyoudi. “We see huge investment opportunities in renewable energy, nuclear and energy efficiency.”

— business@khaleejtimes.com


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