Page 11 - Altogether Magazine Issue 5 English
P. 11
In light of the rapid acceleration in It is also reasonable to estimate to this as the country enjoys huge
the production and service sectors that the availability of oil and gas reservoirs of natural gas, supported
– witnessed both in the region in the Cooperation Council for Arab by a firm stand to elevate its
and worldwide – it is no longer States of the Gulf (GCCs) is 57% of production capacities of electricity
possible to simply wait and hope for the world crude oil reservoir, while utilizing natural gas. Other GCCs
breakthroughs to make a turn over the region’s natural gas reservoir – traditionally utilize oil, compensating
without proactively anticipating and which is considered a rooted pillar for their deficit in natural gas to
preparing for them. Sectors which pushing towards more development generate electricity and meet the
require huge and concentrated of transformation industry – is industrial, domestic and commercial
investment no longer explicitly 28% of what is available globally. demands for energy – with the
state their immediate willingness On the other hand, the vast and consumption rate of natural and
or intentions to improve their growing demand for power – for electricity gas at 90% therein.
performance in the future. Even so, multiple uses – challenges these Therefore, the countries of this region
these sectors have evolved to the countries. With the continuous need to concentrate on efficient
extent they are now incorporated population growth and the ensuing utilization methods and adopt more
within sustainable development demand for economic, industrial energy saving programs to be able to
strategies in the region. Moreover, and infrastructure development. face the growing challenges of power
the industrial sector is prominent in GCCs are soon expected to face security, air pollution and climate
the thoughts of in the area – because power shortages. Within these change. Another major challenge
it is a viable and vastly growing circumstances, natural gas is facing the GCCs is to actually enforce
production sector, the development emerging as the favorable fuel to their efficient energy utilization
of which elevates the area’s support growth in all industrial programs, because the regulations
production and export capacity. and production areas. Natural gas available unfortunately do not
The industrial sector may also has proved to be tremendously foresee the application of efficient
improve development plans and efficient at reducing costs, enabling standards, for which standards
bolster these countries’ international GCCs to diversify their economies guarantee the actualization of the
competitiveness. Industrial evolution and develop their petrochemical, objectives sought. The positive
enables countries to influence the heavy industries, Aluminium and implications of improving the
international economic and financial plastic sectors. Natural gas also efficiency of energy in the industrial
arena rather than merely responding plays a significant role in the energy sector is not solely meant to preserve
to developments. Economic trends generating and water desalination energy sources. Yet, it extends to
in this region show that its countries projects to meet the population improve industrial operations, reduce
are increasingly heading towards and production demands. GCCs production costs and support this
affecting more improvement in increasingly provide natural gas, viable sector towards attracting more
the transformation industry, since fuel and electricity at lower rates investment.
it creates diversified commercial compared to international markets. In spite of the factors pressuring
and investment opportunities. The Furthermore, the incentives allowed the Aluminium industry worldwide,
transformation industry equally to production sectors are mainly to London Stock Exchange standards
establishes a solid platform to industry since these countries only showed raw Aluminium prices
support national economics within recently witnessed an industrial significantly increased to USD
the short term, benefiting from the boom. Taking the above facts into 1,967/ton at the end of last July.
natural reservoir of raw materials account, consumption has grown in Nevertheless, international markets
available to them, their central the GCCs by 7.9% annually between largely encounter price fluctuations,
location in this part of the world, 2004 and 2011. since this ore was traded at USD
and their intense willingness to step GCCs heavily depend on their natural 1,762/ton last January of the same
forward within the main production gas exports to meet their increasing year at London Stock Exchange – its
streams. demand. Yet Qatar is an exception lowest rate in 4 years.
11
the production and service sectors that the availability of oil and gas reservoirs of natural gas, supported
– witnessed both in the region in the Cooperation Council for Arab by a firm stand to elevate its
and worldwide – it is no longer States of the Gulf (GCCs) is 57% of production capacities of electricity
possible to simply wait and hope for the world crude oil reservoir, while utilizing natural gas. Other GCCs
breakthroughs to make a turn over the region’s natural gas reservoir – traditionally utilize oil, compensating
without proactively anticipating and which is considered a rooted pillar for their deficit in natural gas to
preparing for them. Sectors which pushing towards more development generate electricity and meet the
require huge and concentrated of transformation industry – is industrial, domestic and commercial
investment no longer explicitly 28% of what is available globally. demands for energy – with the
state their immediate willingness On the other hand, the vast and consumption rate of natural and
or intentions to improve their growing demand for power – for electricity gas at 90% therein.
performance in the future. Even so, multiple uses – challenges these Therefore, the countries of this region
these sectors have evolved to the countries. With the continuous need to concentrate on efficient
extent they are now incorporated population growth and the ensuing utilization methods and adopt more
within sustainable development demand for economic, industrial energy saving programs to be able to
strategies in the region. Moreover, and infrastructure development. face the growing challenges of power
the industrial sector is prominent in GCCs are soon expected to face security, air pollution and climate
the thoughts of in the area – because power shortages. Within these change. Another major challenge
it is a viable and vastly growing circumstances, natural gas is facing the GCCs is to actually enforce
production sector, the development emerging as the favorable fuel to their efficient energy utilization
of which elevates the area’s support growth in all industrial programs, because the regulations
production and export capacity. and production areas. Natural gas available unfortunately do not
The industrial sector may also has proved to be tremendously foresee the application of efficient
improve development plans and efficient at reducing costs, enabling standards, for which standards
bolster these countries’ international GCCs to diversify their economies guarantee the actualization of the
competitiveness. Industrial evolution and develop their petrochemical, objectives sought. The positive
enables countries to influence the heavy industries, Aluminium and implications of improving the
international economic and financial plastic sectors. Natural gas also efficiency of energy in the industrial
arena rather than merely responding plays a significant role in the energy sector is not solely meant to preserve
to developments. Economic trends generating and water desalination energy sources. Yet, it extends to
in this region show that its countries projects to meet the population improve industrial operations, reduce
are increasingly heading towards and production demands. GCCs production costs and support this
affecting more improvement in increasingly provide natural gas, viable sector towards attracting more
the transformation industry, since fuel and electricity at lower rates investment.
it creates diversified commercial compared to international markets. In spite of the factors pressuring
and investment opportunities. The Furthermore, the incentives allowed the Aluminium industry worldwide,
transformation industry equally to production sectors are mainly to London Stock Exchange standards
establishes a solid platform to industry since these countries only showed raw Aluminium prices
support national economics within recently witnessed an industrial significantly increased to USD
the short term, benefiting from the boom. Taking the above facts into 1,967/ton at the end of last July.
natural reservoir of raw materials account, consumption has grown in Nevertheless, international markets
available to them, their central the GCCs by 7.9% annually between largely encounter price fluctuations,
location in this part of the world, 2004 and 2011. since this ore was traded at USD
and their intense willingness to step GCCs heavily depend on their natural 1,762/ton last January of the same
forward within the main production gas exports to meet their increasing year at London Stock Exchange – its
streams. demand. Yet Qatar is an exception lowest rate in 4 years.
11
