RetrofitTech Dubai
Monday, March 19, 2018
Directory Directory Subscribe

Saudi power projects need $133 billion investment over 10 years


Please, enter data

Please, enter data

Reuters, 8 February 2016

Saudi Arabia will need investment of 500 billion riyals ($133.3 billion) in electricity projects over the next ten years to cope with rising power demand, its electricity and water minister said.

Minister Abdullah al-Hussayen told an industry conference the country expects peak electricity to hit 90,000 megawatts (MW) in 2022. Installed capacity is around 70,000 MW now.
Saudi Electricity, the largest power producer in the kingdom said in September peak electricity load hit its highest level ever in August driven by local demand for power during the summer. SEC's peak load rose by 10.2 percent to 62,260 MW from 56,547 MW a year earlier.

"The expansion plan in the sector...requires the execution of electricity projects for the next ten years whose costs will exceed 500 billion riyals and in which the private sector is expected to take part," Hussayen said.
Hussayen said contracts to build an electricity grid to connect Saudi Arabia and Egypt would be signed before mid-2016, and the project would operate at full capacity before mid-2019.
The project aims to allow power trading between the two countries. Peak-time summer power consumption in Saudi Arabia falls between noon and mid afternoon, when air conditioners are used most intensively, while in Egypt the peak is after sunset.
Deputy oil minister Prince Abdulaziz Bin Salman told the same conference Saudi energy consumption was expected to grow by 4-5 percent annually in the next few years, reaching double its current level by 2030 if no efficiency measures are taken.
Domestic energy consumption was around 38 percent of the total oil and gas resources produced in the kingdom, he said, repeating the kingdom would save 1.5 million barrels per day of oil equivalent by 2030 with an efficiency program he is supervising.
An extra 850,000 boepd would be saved with higher efficiency from power and water desalination plants as well as better use of feedstock for petrochemicals, which account for 19 percent of the total energy consumption in the kingdom, he added. ($1 = 3.7500 riyals)
8 February

Login to Add Your Comment  (for subscribers) | Subscribe


Latest News

Orascom Construction JV wins Dh661m Fujairah airport contract
The National, 19 March 2018

Orascom Construction and its UAE joint venture partner won the $180 million (Dh661m) Fujairah International Airport expansion contract as the Egyptian contractor ...

Read full story
Orascom Construction JV wins Dh661m Fujairah airport contract
Dewa awards four substation construction deals worth Dh1.28bn
The National, 17 March 2018

Dubai Electricity & Water Authority (Dewa) awarded contracts to construct four substations with a combined value of Dh1.28 billion, as the state-owned firm ...

Read full story
Dewa awards four substation construction deals worth Dh1.28bn
Qatari economy witnessing continued growth: Minister
Qatar Tribune, 16 March 2018

Overcoming all challenges, the Qatari economy is witnessing continued growth by diversifying the sources of income, Minister of Economy and Commerce HE Sheikh ...

Read full story
Qatari economy witnessing continued growth: Minister
Iraq’s oil ministry calls for investors for Anbar refinery
Arab News, 15 March 2018

Iraq’s oil ministry on Thursday called on companies to invest in a project to build a 70,000 barrel-per-day oil refinery in the western province of Anbar.

Read full story
Iraq’s oil ministry calls for investors for Anbar refinery
Back to Home Page 2291 --- 0 <><><> 525.83333333333.....exvideo=0....eximage=0
P 0
BR 18

RetrofitTech Dubai

3rd Annual Mosque Design & Development Summit
1 - April 2018
4th Annual RetrofitTech Dubai Summit & Awards
10 - April 2018
The Annual Future Drainage & Stormwater Networks Abu Dhabi
2 - May 2018
Wet Infrastructure Summit
2 - May 2018
Future Civil Defense
7 - May 2018
  View more  

Market Indecies
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%

RetrofitTech Dubai

Quick Links
  Brochures & Flyers  

Up-coming events
IFP Group Events Calendar

Magazine sections
  Growth Markets  
  Regional Overview  
  Tips and Tricks  
  Home Finance  
  Our Meetings
  Legal Issues


IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Beirut Boat
Energy Lebanon
Project Lebanon
Heavy Max
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Qatar Transport & Logistics
Iraq Agrofood Baghdad
Saudi Arabia
Riyadh Motor Show
IFP Group 2018 - © All rights reserved