Upcoming Trade Shows in UAE for Energy

The UAE is a heavyweight in the global energy market, with 7% of the world's proven oil reserves, approximately 100 billion barrels. As of June 2010, the UAE ranked sixth globally in proved oil reserves, trailing only Saudi Arabia, Venezuela, Iran, Iraq, and Kuwait. The country's crude oil production fluctuates between 4 and 5 million barrels daily, positioning it as the fourth-largest crude oil net exporter and the tenth-largest crude oil producer globally. In addition, the UAE holds the seventh-largest global proved natural gas reserves, which exceed 6 trillion cubic meters. This positions the nation as a critical player in the global gas production landscape. Having built its wealth on fossil fuels, the UAE, nevertheless, understands that it needs to diversify its energy mix in order to ensure long-term economic stability, while also recognizing the value in transitioning towards a more sustainable energy future. Historically reliant on nearly 100% gas-powered electricity generation, the UAE has moved to solar, other renewables and nuclear energy. This transition is part of a broader effort to substantially reduce carbon emissions and combat climate change. The UAE Energy Strategy 2050 outlines an ambitious roadmap for this transformation. By 2050, the energy mix is targeted to comprise 44% clean energy, 38% gas, 12% clean coal, and 6% nuclear. The UAE's geographical location endows it with immense solar generation potential. The nation's energy policy has evolved significantly, driven by the declining costs of solar technology. The Dubai Clean Energy Strategy aims to supply 7% of Dubai's energy from clean sources by 2020, increasing to 25% by 2030, and 75% by 2050. One of the flagship projects is the Mohammed bin Rashid Al Maktoum Solar Park, set to be the largest single-site solar park in the world with a planned capacity of 5,000 megawatts by 2030.