Regulators

Dubai Supreme Council of Energy Considering Measures for Controlling Petroleum Product Trading in Dubai

Published on: 04 July 2022
by KnowESG
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The virtual 71st meeting was led by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy. Vice-Chairman of the Dubai Supreme Council of Energy HE Saeed Mohammed Al Tayer also participated.

The meeting was attended by HE Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, and board members HE Dawood Al Hajri, Director General of Dubai Municipality; HE Abdulla bin Kalban, Managing Director of Emirates Global Aluminium (EGA); HE Saif Humaid Al Falasi, CEO of Emirates National Oil Company (ENOC); Juan-Pablo Freile, General Manager of Dubai Petroleum; and Nasser Abu Shehab, CEO of the Strategy & Corporate Governance Sector at the Roads & Transport Authority (RTA).

The meeting discussed several topics, most notably establishing a permanent committee to monitor petroleum product trading and the savings achieved by the Demand Side Management Strategy.

In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to protect the environment and society and ensure the highest standards of safety and security, the Supreme Council of Energy discussed establishing a permanent committee to monitor petroleum product trading in Dubai. His Highness, the Chairman of the Dubai Supreme Council of Energy, issued Resolution No. 3 of 2021 to outline the regulatory framework, strategies and regulations for the trading of LPG and its derivatives in Dubai, under the highest international standards in this regard. We also aim to regulate business practices and implement the highest international safety and security standards as well as ensure transportation, storage and distribution of LPG according to the approved criteria in the UAE,” said Al Tayer.

“In its Directive, the Dubai Supreme Council of Energy stipulated the necessity of obtaining its authorisation to issue the permit to complete all approvals and requirements from government authorities in the Emirate, according to their respective requirements. The Supreme Council will coordinate with government authorities to conduct joint inspection campaigns to ensure that workers in this sector follow the Directive and apply the highest safety and security standards,” added Al Tayer.

“During the meeting, we reviewed the savings achieved by the Dubai Demand Side Management Strategy 2030. In 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5% of the business as usual, and about 12.2 billion imperial gallons of water, equivalent to 9.4%” of business as usual,” said Al Muhairbi.

“Since 2011, demand-side programmes have contributed to avoiding 14.1 million tonnes of carbon dioxide emissions, saving nearly AED 9 billion. We thank all the related parties and programme owners who played an active role in making these achievements in Dubai,” added Al Muhairbi.

Source: Zawya

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