It has adopted a diversified energy mix to meet the growing demand
The UAE is a global leader in the renewable energy and sustainability sector
The UAE is making great efforts to address the challenges of increasing energy demand.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, has undertaken for decades to create a diversified system in which energy sources are integrated. Plans and strategies have been developed, under the directives of His Highness, whereby the UAE has achieved global leadership in the renewable energy sector and sustainability.
The UAE currently has the fifth largest oil reserves in the world, and the sixth largest gas reserves. The use of oil is concentrated for export purposes and to support the comprehensive development process witnessed by the country, while the majority of gas quantities are used locally, where about three billion cubic feet per day are used to generate electricity. And three billion cubic feet per day for industrial purposes, and about 2.2 billion cubic feet is used for re-injection into oil wells to enhance extraction, while 500 million cubic feet are exported to Japan, under a long-term contract with TEPCO.
About 98% of the gas is used locally for the purposes of electricity generation and water desalination in a wise policy, because gas is considered one of the most environmentally friendly types of fossil fuels, as well as its economic feasibility.
Under the supervision of His Highness, the UAE is making great efforts to address the challenges of increasing energy demand, and these efforts are a natural extension of the UAE's well-established position in the energy sector, where it has great experience and important resources.
The UAE's efforts to address energy challenges focus on two main axes, namely demand management and diversification of energy sources.
The UAE adopts various technologies for renewable energy, including solar energy, wind energy, hydroelectricity, geothermal energy and waste energy generation.
The optimal mix of energy resources includes gas, peaceful nuclear energy, and renewable energy.
Under the directives of His Highness, “Masdar” was established, with a mission not limited to developing renewable energy projects, but extending to covering all stages and the value chain aspect in the sector, which includes education, research and development through the Masdar Institute of Science and Technology, which was established in cooperation with the Massachusetts Institute of Technology.
The investment in clean technologies received the attention of His Highness, through the establishment of two investment funds, with a total value of 540 million dollars, 72% of the capital of these funds is from foreign investments, and thus the equation that prevailed in the past was reversed, as Gulf funds are sent to be invested abroad. Abu Dhabi is attracting money to invest in clean technologies.
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