Greater domestic energy efficiency could fuel a boom in Saudi Arabia’s export potential, according to news site Zawya.
Just a 10% reduction in domestic oil consumption by 2030 would free up 255 million barrels for export, generating additional revenue of $28 billion per year.
Speaking at the Partners in Energy Supply Efficiency Summit at the Saudi GE Innovation Center in Dhahran Techno-Valley, Dr. Mohammad Khorsheed, General Manager of GE Saudi Innovation, said that the key to realising this ambition lay in utilising new technologies and creating a culture of energy efficiency at home.
“With demand for power in the Kingdom growing at an estimated 7 percent annually, GE is committed to be a strong partner in Saudi Arabia’s developmental needs by researching and developing new technologies that will enhance the efficiency of the currently installed base,” he said
Dr. Azeez Mohammed, President and CEO, Power Generation Services, echoed Khorsheed’s sentiment.
“With about 500 GE turbines generating more than 50 per cent of Saudi Arabia’s power, we serve as a long-term partner in meeting the energy requirements of the Kingdom. We conducted a detailed supply side energy-efficiency study, which clearly identifies solutions that could support the Kingdom of Saudi Arabia reduce its fuel consumption while providing simultaneously higher output power,” he said.
According to a GE study, the use of oil also has a strong environmental impact, which can be optimized through efficient technologies. Some 452 million metric tons of carbon dioxide were emitted in 2010 through power fuel consumption, while the per capita carbon dioxide emissions stand at 16.5 tons.
The key finding of the study is that energy efficiency is the solution toward utilizing the energy in an effective manner while saving on resources especially when compared to other possible solutions. This takes into account the implementation cost, installation of new power generation facilities, operating costs, implementation time frame and environmental impact.
“We are committed to introducing an energy efficiency platform that supports key stakeholders to create a culture of aligned business thinking and decision making to drive efficiency in the Kingdom,” Azeez added.
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