Gas remains dominant energy source in Gulf

KUWAIT CITY, Sept 26: MEED Magazine stated that the importance of renewable energy sources will increase over time although fossil fuels – mainly gas – remain the dominant energy source generating power in the Gulf countries, reports Al-Anba daily. An analysis by the magazine’s Editor for Energy Affairs Jennifer Aguinaldo revealed that the country – represented by Kuwait Gulf Investment Corporation – ranked fourth with a net generation capacity of 602 megawatts and total planned capacity of 2,245 megawatts in five power projects, while Saudi Aqua Power Company ranked first.

The magazine added that Saudi Arabia and Kuwait are in the process of purchasing new gas-fired power plants, while Abu Dhabi has not ruled out building gas-fired generation capacity in the future. Dubai and Oman, which suffer from a shortage of gas supplies, have already announced that they will not construct new gas-fired power plants.

The magazine went on to say that no matter how near-term decision and policy-making are undertaken in the Gulf Cooperation Council (GCC) member-nations; the importance of renewable sources of energy will increase as time passes and the private utility developers will focus on them.