Gulf states urged to set up energy center
Jul 12 - McClatchy-Tribune Regional News - Ghazanfar Ali Khan Arab News,
Jeddah, Saudi Arabia
The Gulf states have been urged to establish an energy center as part of
broader initiatives to introduce renewable sources and alternative clean
fuels into the regional energy supply system. At the same time, real estate
developers in the region are seeking to make their projects as eco-friendly
as possible. "This is a good trend," said Stephen Oehme, an expert and
director for Hyder Consulting. He said that the real estate sector was
conscious of the need to develop eco-friendly projects despite soaring
inflation and increasing material costs. He welcomed a very important
proposal made by the six-nation Gulf Organization for Industrial Consulting
(GOIC), which calls for setting up an energy center. The GOIC, with a
mandate to promote industrial investment, has called to establish the energy
center, saying that initiatives such as these are particularly timely in the
wake of renewed international scrutiny of countries' green credentials.
"The need exists for an energy program or center that addresses the issues
and brings about sustainable development," said the GOIC report.
"As GCC countries are moving to accession of the Kyoto Protocol on GHG
emissions, energy flexibility is to be pursued and further management
efforts must be directed towards improving energy efficiency and introducing
alternative energy sources," said the report of the Doha-based GOIC.
"These challenges also produce some opportunities with them, the carbon
trading business that is now developing is one of the opportunities that the
GCC companies can capitalize on and benefit from," said the report.
The GOIC also announced plans to organize a high-profile industrial
conference. The three-day event, to be attended by ministers of industry
from the six Gulf states and a large number of businessmen from across the
world, will be opened on Nov. 22. On the sidelines of the event, an
international exhibition featuring subcontracting and partnership will also
be staged. Referring to the proposed GCC energy center, the GOIC report
cautioned that the prevailing pattern of energy supply, utilization and
efficiency are contributing to further resource depletion and increase in
greenhouse gas (GHG) emission.
"The GCC companies should capitalize on carbon trading," said the report. In
the short term, extra conservation and energy management activities are to
be carried out, while in the medium to long term, renewable resources and
alternative clean fuels are to be incorporated into regional energy supply
system, the report said.
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