Under the patronage of His Highness Shaikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, the Gulf's top 150 industry leaders in the marketing, trading, and shipping of energy from more than 30 countries, gathered on Thursday in Fujairah for the 5th Gulf Intelligence Middle East Energy to explore the best methods to address the decline in world oil prices and the latest geopolitical shifts in the region, notably the deal regarding Iran's nuclear programme.
Shaikh Saleh bin Mohammed Al Sharqi, chairman of the Fujairah Department of Industry and Economy, opened the one-day energy forum in attendance of Dr Matar Al Neyadi, Undersecretary of the UAE Ministry of Energy, Abdullah bin Hamad Al Attiyah, Chairman of Abdullah bin Hamad Al Attiyah Foundation for Energy and Sustainable Development, Mohammed Obeid bin Majed, Director of Fujairah Department of Energy and Economy, Capt. Mousa Morad, General Manager of Port of Fujairah, Dr Ibrahim Saad, Director of Fujairah Statistics Centre, Aldo Flores-Quiroga, Secretary General of the International Energy Forum, Nawal Al-Fezai, Kuwait National Representative at OPEC, Sheikh Imran Ul Haque, Managing Director of Pakistan State Oil Company Limited, Narendra Taneja, Chairman of Energy Security Group, Federation of Indian Chambers of Commerce and Industry, and Xiaojie Xu, International Advisor of National Energy Administration, China.
Delivering the keynote address, Mohammed Obeid bin Majed said the UAE was seeking to bolster its role on the world energy landscape given its strategic geographic location, modern infrastructure and huge energy reserves. Dr Matar Al Neyadi in his address, said the UAE was keen on providing sustianable free-emission electricity power by meeting more than 24 per cent of local demand by peaceful nuclear energy and renewable energy by 2021. This, he added, would give energy decision-makers a privilege to conserve precious natural resources.
Fujairah, he added, was also playing its part in pushing the UAE's efforts towards that goal.
Fujairah hosted the event for the second year running to facilitate the critical knowledge exchange debates between stakeholders including CEOs, oil experts, and analysts.
The forum focussed on the volatility in this new energy era with an emphasis on what the winning strategies are for all markets involved. A breakout session hosted by Fujairah Oil Terminal FZC discussed "NOC Crude - Develop a 5-Point Strategy to Maximise the Benefit to Fujairah and Its Stakeholders".
On China Outlook, the attendees heard a presentation on "China's 13th Five-Year Plan 2016-2020 - How will China's 'One-Road-One-Belt' Strategy Impact Energy Trading and Infrastructure Across the South-South Energy Corridor?"