Media ININ Economy We Trust
Abu Dhabi 11-09-2019
The Department of Energy in Abu Dhabi, the “Host Sponsor” of the 24th World Energy Conference, signed a Memorandum of Understanding (MoU) with China Electric Company (CEC) to establish a strategic cooperation relationship to support the energy sector in Abu Dhabi to move towards the principles of efficiency, innovation and rationalization of consumption associated with the expansion of development and construction projects. And clean and renewable energy initiatives.
The memorandum, signed by HE Eng. Aweidha Murshed Al Marar, Chairman of the Department of Energy and CEO of China Electric Company (KEC) at the Department’s wing at the World Energy Conference, presents the role of the parties in activating the principles of strategic partnership signed by the leaders of the two friendly countries in 2018, which came the energy sector as one Its axes besides economic, commercial and cultural cooperation, and promote cooperation in technological innovation.
The Memorandum establishes future partnerships linking the Department of Energy in Abu Dhabi as a catalyst for the industry at a level
Foz Participates in the 24th World Energy Conference
Abu Dhabi 11-09-2019
The Fujairah Petroleum Industry Zone (FUZZ) will participate in the 24th World Energy Conference and its accompanying exhibition, held under the slogan ‘Energy for Prosperity’, at the Abu Dhabi National Exhibition Center from 9-12 September.
Fujairah Petroleum Industry Zone (FUZA), under the directives of His Highness Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, aims to follow the green economy approach as a path of development to create investment opportunities for international companies and a promising market for the work of the private sector in the country.
It is expected that the coming years will witness the entry of local, regional, international and other companies to store and export oil, which will provide companies operating in the UAE many opportunities for work and expansion, expansion and specialization, in addition to strengthening the UAE’s position in the global energy sector to ensure that it remains at the top of the knees and consolidate the prestigious position of the state Reliable and responsible energy resources in global markets.
Fujairah Petroleum Industry Zone (FUZA) is considered one of the most vital areas in the Middle East and Asia and occupies a prestigious place in the field of oil storage and its derivatives and industries based on it since its establishment in 2011 by Emiri decree of His Highness Sheikh Hamad bin Mohammed Al Sharqi, Member of the Supreme Council and Ruler Fujairah.
Fawaz has achieved significant growth since its inception in the area of petroleum investment projects in the region and continues to achieve this growth through plans to attract major international investments.
The region will have a storage capacity of 70 million barrels per year with a total of 338 oil tanks in the region formed by international companies operating in the region, including VTTI Fujairah Terminals Ltd, which is participating in the event. Through its presence in the conference, the oil tanks have a storage capacity of 1.6 million cubic meters and manages two refineries with a production capacity of 80 thousand barrels per day for each refinery.
This oil region plays a major role because of its ability to support the UAE’s role in contributing to meet the growing global demand for energy as well as support the local economy by ensuring the continuity of oil exports and also by providing more jobs in addition to moving the wheel of local factories and suppliers.
The emirate and the Chinese Electric Power Company through its owned companies aim to establish the principles of cooperation and exchange of expertise, especially in light of the initiatives witnessed by the energy sector in Abu Dhabi to adopt the principles of efficiency, innovation and rationalization of consumption as well as the strategic direction towards clean and renewable energy sources.
The memorandum includes cooperation in the fields of feasibility study to improve the energy system, increase energy efficiency, develop transmission and clean energy centers, integrate with the network, develop underground gas-insulated cables and lines, link electricity with the UAE and the region, improve electricity networks and Air conditioning and district cooling systems, construction and development of advanced meter infrastructure, training and capacity building in the operation of the electricity grid.
HE Mr. Awaida Murshid Al Marar stressed the keenness of the Emirate of Abu Dhabi to acquire an advanced energy sector based on the principles of efficiency and the promotion of environmental and financial sustainability and security of supply, pointing out that the development of strategic relations with leading international partners in the energy sector contributes to enhance Abu Dhabi’s ability to achieve its strategic aspirations to achieve Sector transformation strategies and initiatives.
“With the UAE’s strategic objectives and great ambitions in the energy sector, and China’s capabilities, expertise and advanced technologies, there is always room for joint work between the two sides to achieve their strategic goals,” said Ko Wei. The Memorandum of Understanding represents a new starting point for further joint initiatives and projects.
The UAE-China trade and investment relations have witnessed growth and prosperity over the past period, and the mutual visits between the leaders of the two friendly countries played a key role in enhancing these relations.
Genco Solar Holding was one of the partners of the Government of Abu Dhabi in the development and construction of the Noor Abu Dhabi project, of which the Government of the emirate owns 60%, while the consortium, Ginco Solar Holdings of China and Marubeni of Japan received the remaining 40%.
China’s National Energy Administration has announced that China will adopt a series of measures to promote clean energy development, including the construction of large areas of solar and wind farms to generate non-fossil energy that will meet 20% of the country’s energy needs by 2030.
