Global Energy Security is the UAE's Top Priority
- 21 January 2015
Speaking on the sidelines of the eighth World Future Energy Summit 2015 in Abu Dhabi on Monday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, emphasized that the UAE is among nations that have greatest influence on international energy markets. He said that transforming sources of energy is a top priority for the UAE. His Highness General Sheikh Mohammed bin Zayed Al Nahayan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, also highlighted the importance of dialog and making greater efforts to boost energy and water security, attaining sustainable development and improving socio-economic conditions.
These statements indicate that the UAE’s energy policy isn’t limited to achieving only the country’s energy security. It also intends to guarantee international supplies, which is a major prerequisite of sustained international development. The UAE maintains balanced fuel exports, which helps stabilize international supplies and boosts international growth. Over the years, the UAE has followed a flexible policy, which has enabled it to quickly adapt to variations, and made it more efficient in dealing with international market emergencies. The most important evidence of this is its capacity to deal with the current changes. Moreover, the country is today capable of protecting its economy despite major transformation encountered by the markets.
The UAE’s energy policy pursues a clear path and vision. The country has adopted an ambitious plan which includes major investments in energy sector projects. These projects involve both traditional and non-traditional sectors. While on one hand it makes investments to raise daily oil production to 305 million barrels by the end of the current decade it also increasing its production of natural gas to meet the increasing demands especially for electricity generation. At the same time, the UAE has also taken significant steps toward becoming one of the most important players in the new and renewable energy projects.
The UAE also hosts one of the largest cities run solely by solar power. Masdar has the biggest intensive solar energy production station in the world, Shams 1. The country hosts permanent headquarters of International Renewable Energy Agency and also runs innumerable projects implemented by UAE companies worldwide. This is a reflection of the UAE’s comprehensive energy policy. Besides developing energy from traditional sources, the UAE is also keen to transform to an era of clean energy as a core prerequisite of attaining sustainable development. It is always in pursuit of improving the standard of living throughout the world without any discrimination of color, race, language or religion.