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GCC set to invest US$50 billion in energy sector till 2010

Abu Dhabi, Jan.12th, 2008 (WAM)--British expert in energy production said GCC countries need additional energy estimated at 1, 00, 000 megwatt in next 10 years to meet the rising demand for energy in the region.

Bill Walker, director of PennWell corporation for organising energy exhibitions said that "with growing demand for energy at rate of five per cent annually, the GCC countries plan to invest US$50 billion in energy sector".

He added that the energy corporations and institutions in the UAE and GCC countries will take part in the 12th Middle East Energy conference (POWER-GEN 2008), to be hosted by Bahrain from Feb. 4-6, 2008.

Walker noted that five per cent of the world's population live in the Middle East yet the region owns one per cent only of water resources, adding that consumption of water has increased in the GCC countries over the last five years, "hence, there is a need for additional investment to construct water network pipelines and treatment system for sewage water."He added that three-day-long conference will host over 3, 000 Arab and foreign energy professionals at the energy Middle East conference to discuss future power and water in the region.

This year's conference, which is attracting the industry's top speakers from around the world, to make presentations at the leading conference and exhibition for the power and water sectors of the Middle East, will be held under the theme: "The Challenges of Feeding a Growing Demand" in a region that is experiencing extraordinary growth in the demand for electricity and water resources.

Corrado Sommariva, divisional director of desalination department, Mott MacDonald and chairman of WHO advisory panel for drinking water supply for desalination, will mark the beginning of the new water track of the conference, with an opening address and a regional overview.

Country Spotlights within the power sector will include Dr Amer M. Al-Swaha, head of the IPP programme at Saudi electric company, who will be covering Saudi Arabia's power sector, and Dr Ahmed Hiyasat, managing director of National Electric Power Co. ( NEPCO ) will be discussing the situation in Jordan.

The event is renowned for attracting some of the region's, and the world's leading industry figureheads, to participate and make presentations, and 2008 will be no exception.

As a key forum for senior executives and industry leaders, POWER-GEN Middle East is the place to meet and discuss a range of topics, from the region's energy markets, latest technologies and issues relating to power generation, transmission, distribution and water, in order to meet the challenge of the rapid growth in demand for power and water.

Conference Director, Nigel Blackaby, said, "With the introduction of a water track into the conference programme, there has been great interest in the development of the event, as the water and power industries work closer together in the Middle East than anywhere else." He added that "We are very excited at the level of speakers and presentations at this year's POWER-GEN Middle East, who will discuss a range of strategic and technical issues about the regions markets and industries." The POWER-GEN Middle East conference is accompanied with the region's premier exhibition for the power generation, transmission, distribution and water industries that will see over 100 companies displaying their leading products and services for the industry.

© Copyright Emirates News Agency (WAM) 2008.