Gargash: GCC countries to spend US$70b on energy projects in 09

Brussels - Oct 10, 2009 (WAM) - Renewable energy is the only sustainable solution for securing world energy, said UAE Minister of State for Foreign Affairs H.E. Dr Anwar Mohammed Gargash.
Addressing a ministerial conference in Brussels about renewable energy, Gargash referred to the current indicators which forecast a 6.6 percent rise in gas demand and 3 percent oil demand during 2007 - 2011.
He said that the GCC countries were expected to spend 70 million US dollars on energy projects during 2009, half of which in power and water sectors. He added that the Gulf region enjoys a climate that enables development and export of solar energy.
Gargash indicated that Saudi Arabia, Oman and Kuwait have ambitious programmes for solar and wind energy, as well as clean use of oil. He said climate change was considered a global issue, warning that lack of collective efforts may lead to failure in cutting carbon dioxide emissions.
Delegates from the European Union, the Mediterranean and the GCC called for cooperation and coordination to encourage development of renewable energy projects line windmills and solar energy. – Emirates News Agency, WAM