Energy efficiency can enable the growth of a new market in Oman through the formation of local Energy Services Companies (ESCOs), said Eng Salim Nasser al Aufi, Under-Secretary of Ministry of Energy and Minerals.
He was speaking at the opening of the first Energy Efficiency Conference, organised by Oman’s integrated energy group OQ, on Wednesday.
The daylong event has been hailed as an extraordinary opportunity to engage with all the stakeholders from across the Sultanate.
It is also expected to have far-reaching implications on all areas of the sector in the Sultanate.
“Energy efficiency is centrally important to social development, economic growth and resilience, and clean energy transitions. Many countries have successfully implemented energy efficiency policies, resulting in a range of positive outcomes in terms of jobs and health. Oman is taking action with this important topic which is exemplified through multiple domains,” said Al Aufi.
The conference discussed the current global landscape and outlook of energy efficiency, its economic, social and environmental benefits and related opportunities and challenges in both the industrial and buildings sectors of the country.
Successful case studies of implementing energy efficiency measures in the Oil and Gas industry of Oman were also presented at the conference.
Among the event speakers and exhibitors from the energy sector of the Sultanate were Petroleum Development Oman (PDO), Carbon Connect International, Clean Energy Business Council (CEBC), Ejaad, Sultan Qaboos University, Hasa Energy, Schneider Electric, BP, Siemens, Total, Enova, and Yokogawa & KBC.
Dr Salim al Huthaili, CEO of Alternative Energy, OQ, further noted: “Like many other parts of the developed world, the Middle East is also geared up to firmly emphasise on having government policies to implement EE ideas in their economic and fiscal planning. This is particularly with a focus on issues related to electrical demand as a 300 per cent increase in the electricity demand is expected in the Middle East by the year 2050.”
OQ a global integrated energy company of the Sultanate of Oman with operations across 17 countries around the world. OQ covers the entire value chain from exploration and production to marketing and distribution of end-user products. OQ’s Alternative Energy business unit is based on Green Molecules, Energy Assets, as well as Energy Efficiency and Optimisation. It is leveraging existing OQ assets around the world to generate a diversified revenue stream of over $400 million EBITDA from Alternative Energy by 2030.
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