DUBAI: The second phase of the AED5 billion Gulf power grid was inaugurated by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, on Wednesday.
The power grid unifies those of the six Gulf states with the first phase having become operational in early 2009 connecting Saudi Arabia, Kuwait, Bahrain and Qatar.
GCC energy ministers and board members of the GCC Interconnection Authority (GCCIA) attended the opening ceremony.
GCCIA will undertake implementation of the project as well as maintenance and network operation, while playing a key role in energy trade in the region.
During the inauguration, Sheikh Mohammed said the strategic and economic integration of the GCC region is the key to the wellbeing and promising future of its citizens; it also represents the shared vision of GCC leaders.
This would provide a platform for energy trade and exchange, while improving the reliability of existing energy systems and lowering electricity reserve requirements on GCC countries.
Sheikh Mohammed said the joint project sends out a clear message to all GCC nationals as to the serious commitment of all GCC countries to joint GCC projects, while highlighting the positive outcomes of such projects on everybody in the region. The project will save up to AED18.4 billion (around $ 5 billion) and will lay the foundation for a common energy market among the GCC countries.
The project will also enable the achievement of a major strategic goal, which is providing GCC countries with sustainable energy supplies to support the national economies and drive sustainable development in the GCC region.
Essa Al-Kawari, chairman of GCCIA, referred to the UAE's role in the project and the joint vision of GCC leaders in bringing this project to reality and presented an overview of the different stages of the project, which included extending electrical lines above the ground, along with an underwater cable in the Arabian Gulf.
The network has been also used to extend fiber optic lines in order to strengthen the IT and networks infrastructure in the GCC countries and provide investment opportunities for companies operating in the telecommunications sector.
© Arab News 2011
