BUSINESS REPORTER
MUSCAT, MAY 10
Middle East Energy will spotlight the increasing demand for energy, which is set to grow by 3.35 per cent per annum for the next 15 years in the region, as the Middle East and North Africa’ (MENA) population is estimated to grow by 20 per cent to reach 581 million in 2030 and a further 24 per cent by 2050 to hit 724 million, according to statista.
In light of the increasing demand and the apparent need for increased connectedness and interoperation in response to the Covid-19 pandemic, there is a strong economic case for deepening and extending regional cooperation in the energy supply.
The four-week online networking conference series that starts next week on 17 May, is set to facilitate the convergence of the global and regional energy ecosystem and connect energy professionals from far-reaching corners of the globe to gain a deeper understanding of the benefits of the interconnectivity of the energy system.
Claudia Konieczna, Exhibition Director, Middle East Energy, said: “In key regions such as the Middle East, where energy resources are imbalanced, increased integration of energy systems will increase broader market integration and drive sustainable development.”
A recent example of the increased integration of energy supply is the acceleration of the move to create a Pan-Arab Electricity Market in response to the coronavirus pandemic. Aiming to revolutionise the electricity sector in the Middle East by increasing electricity trading from 2 per cent to 40 per cent by 2035, the integrated market also offers significant opportunities for renewables and private investment in the regional electricity supply.
Middle East Energy begins on 17 May with the Renewable & Clean Energy sector week, which will provide a platform to explore the strengthening momentum of the global transition to renewable energy.
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