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Kuwait Times
4 days ago
- Business
- Kuwait Times
‘All resources vital to meet future demand'
KUWAIT: Secretary General of the Arab Energy Organization (AEO) Jamal Al-Loughani affirmed that all forms of energy must be harnessed to meet the rising global demand, emphasizing that new and renewable sources are critical but will not replace conventional energy. Speaking to Kuwait News Agency (KUNA) on the occasion of the AEO's release of its first quarterly report for 2025, Al-Loughani highlighted the growing global appetite for electric power, which is expected to surge significantly by 2050. He stressed the importance of attracting fresh investments across the energy spectrum to ensure supply security and meet future needs. Al-Loughani noted a marked global interest in renewable energy during the first quarter of 2025, though investment levels varied by region. China, he said, maintained strong momentum in developing its renewable sector to bolster energy security and diversify sources. Egypt, meanwhile, recorded significant growth in solar power output. In contrast, he explained that in the United States, large-scale renewable energy projects faced delays amid tax policy uncertainties, stalling progress in the sector. Within the Arab region, AEO member states are pushing forward with efforts to expand renewables through progressive policies, technological advancements, and international collaboration. Al-Loughani revealed that global renewable energy capacity reached 4,448 gigawatts by the end of 2024. To achieve the tripling target set during COP28, annual growth must exceed 16.6 percent through 2030, he noted. On the topic of clean hydrogen, Al-Loughani underlined the importance of transportation infrastructure, particularly in densely populated areas. He said vehicles powered by hydrogen fuel cells will remain uncompetitive unless hydrogen production costs are substantially reduced. He also pointed to the potential of artificial intelligence (AI) in transforming the energy landscape. AI, he said, could play a key role in improving energy efficiency, reducing consumption, and lowering emissions from conventional sources. Looking ahead, Al-Loughani cautioned that the energy transition must balance sustainability with security, affordability, and regional economic realities. He stressed that each country's approach to clean energy must reflect its socio-economic priorities and conditions. Al-Loughani also warned of the risks linked to the global concentration of rare earth minerals, critical for clean energy technologies. China currently controls 80 percent of supply chains and 90 percent of processing capabilities, posing potential geopolitical and supply chain risks, he said. Commenting on electric vehicles, Al-Loughani offered a cautiously optimistic view. While global oil demand may stabilize or decline in some markets, he said demand in developing nations is likely to grow due to rapid economic and population expansion. On nuclear energy, the AEO Secretary General described it as a strategic option with both major opportunities and complex challenges, particularly concerning safety, security, and waste management. He stated that 440 nuclear reactors are currently operating in 32 countries, generating around 400 gigawatts—approximately nine percent of global electricity. Al-Loughani urged Arab countries to examine international experiences in nuclear development, highlighting the importance of clear policy frameworks, robust investment strategies, and alignment with technological advancements. He concluded by calling for urgent, coordinated action to address the escalating threat of climate change, noting projections of record-breaking global temperatures in the coming years. - KUNA
Zawya
07-03-2025
- Business
- Zawya
India emerges as top buyer of UAE LNG
India received more than half the UAE's LNG exports in the first nine months of 2024 while the rest were supplied to other Asian markets, an official report shows. All the LNG exports last year were from the gas treatment plant on Abu Dhabi's Das Island, which has a production capacity of around 5.8 million tonnes per year, said the report by the Kuwaiti-based Arab Energy Organization (AEO). The quarterly report published this week showed the Das LNG exports surged by nearly 13 percent to around 4.3 million tonnes in the first nine months of last year from about 3.8 million tonnes in the same period of 2023. India accounted for nearly 52 percent of the LNG exports in the first nine months of 2024 while Japan and China received 15 percent each, South Korea and Taiwan 6 percent each. The rest was exported to other Asian markets, according to the report. As for Qatar, it showed the Gulf country was the second largest LNG exporter last year after the US, with exports standing at nearly 60.1 million tonnes in the first nine months. (Writing by Nadim Kawach; Editing by Anoop Menon) (
