Energy
From The Report: Dubai 2019
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Although Dubai’s growth and prosperity have been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of the emirate’s GDP in 2016. Energy’s contribution to national GDP in recent years has averaged around 45% for the UAE as a whole, but only about 5% in Dubai. Still, Dubai operates as a centre for oil and gas trade. The emirate has diversified activities to become a global financial and trading hub, and hydrocarbons continue to have a major impact on economic activity. At the same time, Dubai is right at the forefront of what might be called the new emerging cleaner energy world, by developing and promoting disruptive technologies. This chapter contains interviews with Saif Humaid Al Falasi, Group CEO, Emirates National Oil Company; and Saeed Mohammed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority.

Articles from this Chapter

Overview

Economy and ecology: Despite its history and proximity to oil, Dubai is embracing renewables to meet growing energy demand
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Although Dubai’s growth and prosperity have been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of the emirate’s GDP in 2016. Energy’s contribution to national GDP in recent years has averaged around 45% for the UAE as a whole, but only about 5% in Dubai. Still, Dubai operates as a centre for oil and gas trade and is home to many firms servicing the energy industry. Despite its own modest reserves, the emirate has diversified activities…

Interview

Chances and challenges: Saif Humaid Al Falasi, Group CEO, Emirates National Oil Company (ENOC), on crude’s way forward in the 21st century
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Interview:Saif Humaid Al Falasi Which export markets do you see as the fastest-growing destinations for refined products? SAIF HUMAID AL FALASI: The emerging economies of Asia and the Middle East are certainly the fastest-growing markets when it comes to demand for refined products. Income levels in the UAE, the GCC and Asia are rapidly growing, with GDPs rising annually within the range of 3-7%. Among these countries, India and China stand out not only for their size, but also for their…

Analysis

Solar bet: Dubai will soon be home to the world’s largest single-site solar energy park
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The Dubai Electricity and Water Authority (DEWA) is striving to harness the potential of renewable energy. As part of these plans, the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) was launched in 2012. Future developments at the plant will see solar energy generation capacity increasing to 1000 MW by 2020 and 5000 MW by 2050 – half of Dubai’s entire installed capacity at the end of 2016 – at an expected cost of Dh50bn ($13.6bn), making it the largest single site solar…

Interview

Powering innovation: Saeed Mohammed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority (DEWA), on plans to reduce energy consumption and encourage green solutions
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Interview:Saeed Mohammed Al Tayer What roles are public-private partnerships expected to play in boosting Dubai’s green energy output? SAEED MOHAMMED AL TAYER: The path to a sustainable future relies on green energy, renewability and innovation. The UAE is working towards this through initiatives like the Dubai Clean Energy Strategy 2050, which aims to provide 75% of the emirate’s total power output from clean energy by 2050. It also aims to establish a sustainable energy model that supports…

Analysis

Grid goals: High priority has been given to meeting Dubai’s energy needs
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Dubai Electricity and Water Authority (DEWA) announced in October 2018 that it was awarding Dh93m ($25.3m) worth of orders for 990 transformers. The transformers, sourced from a number of global manufacturers, will be equipped with smart meters and used to increase the capacity, efficiency and reliability of power distribution in Dubai. “The purchase is part of plans to meet energy policies and strategies laid out in UAE Vision 2021 and Dubai Plan 2021,” Saeed Mohammed Al Tayer, managing…