22 August 2016
Dubai, UAE - A new report from Arab Petroleum Investments Corporation (APICORP), owned by OAPC (Organization of Arab Exporting Countries) says that the total committed and planned energy investments in the MENA region could reach USD 900 billion over the next five years.
The report reveals that planned MENA investments in the energy sector are estimated at USD 611 billion for the five-year period. It says that the power sector accounts for the largest share of investments, at USD 194 billion. The report also shows the oil and gas sector will represent USD 190 billion and USD 149 billion respectively, with the remaining investments in petrochemicals. Also, projects under study represent by far the largest portion of planned investments, at about USD 262 billion, according to the study.
Relevantly, the Water, Energy, Technology, and Environment Exhibition (WETEX 2016) aims to be the perfect platform to leverage from some of these planned energy investments. WETEX is organised under the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of DEWA at the Dubai International Convention and Exhibition Centre, from 4- 6 October 2016. WETEX 2016 will display the latest technologies in oil& gas, clean coal, renewable and clean energy, smart networks as well as energy efficiency solutions at a time when it is imperative to set up advanced infrastructure to produce, transmit and distribute renewable energy.
"The developing economies are in need of creating an advanced infrastructure and developing sustainable ways to produce renewable energy," said HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), Founder and Chairman of WETEX. "We need to ensure innovative government policies, continuous supply of new technologies backed with an appealing investment climate. Being held annually, WETEX helps in promoting investment in the energy sector. That is why it is held under the theme 'at the forefront of sustainability' reflecting the leadership of the UAE and Dubai in this regard."
WETEX forges strategic partnerships between exhibitors and trade visitors attending the show from all over the world. It showcases energy solutions for electric cars, as well as technologies related to distribution, storage and demand management. Adding the first Dubai Solar Show to coincide with the show will attract a larger number of solar energy specialists at a time when the renewable sector is becoming the most prominent sector for investments in the region," he added.
"The establishment of infrastructure that matches the futuristic demand and leverages advancement in renewable energy solutions will contribute in ensuring sustainable supply through a diversity of energy sources. It will also promote innovation and facilitate market access. WETEX 2016 not limited to the presentation of projects and investment opportunities as it will also feature a wide range of solutions and services that help investors and decision-makers to create energy infrastructure with the highest sustainability standards," Al Tayer concluded.