Dubai Supreme Council moots monitoring panel for petroleum trading

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This was the 71st meeting of the Council. (Pic WAM)
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  • At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
  • Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion. 

Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and the savings achieved by the Demand Side Management Strategy 2030.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, chaired the meeting held virtually, with the participation of Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy.

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.

“His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai, had issued Resolution No. 3 of 2021 to outline the regulatory framework, strategies and regulations for the trading of LPG and its derivatives in Dubai, in accordance with 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 authorization 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.

The meeting said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual, and about 12.2 billion imperial gallons of water, equivalent to 9.4 percent of business as usual. Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.

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