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Energy minister Prince Abdelaziz Bin Salman announced wide-ranging changes on 16 November designed to bolster state utility Saudi Electricity Company (SEC), improve the transmission network’s reliability and encourage more renewable energy production. Prince Abdelaziz, who is also chairman of the Ministerial Committee for Restructuring the Electricity Sector and of the Electricity and Cogeneration Regulatory Authority (ECRA), said SEC’s net government liabilities – estimated at SR168bn ($45bn) – would be converted into shareholder equity via a sharia-compliant instrument. In addition, fees paid by SEC to the government would be cancelled.

Saudi Arabia
Issue 1114 - 12 November 2020

Iraq shortlists atomic partners

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The Iraqi Authority for Controlling Radioactive Sources has shortlisted five potential partners to support its plan to build a nuclear reactor.

Iraq
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Baghdad is considering building small nuclear reactors for research purposes, according to comments by Iraqi Radioactive Sources Regulatory Authority (IRSRA) chief Kamal Hussein Latif. Speaking to the Iraqi News Agency (INA) on 24 September, he said a presidential order had been issued to form a committee to look into the issue.

Iraq
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At least nine major unexplained explosions, fires and similar incidents across Iran in the past three weeks raise the prospect that a well-resourced, co-ordinated attack is under way by regime opponents based inside or outside the Islamic Republic. Alternatively, the wave of incidents could represent an opportunistic series of copycat strikes by a number of different players – or even, in some cases, genuine accidents.

Iran
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Gulf oil exporters could find their market power reduced when selling to China in the future, if a proposal from Chinese oil companies to form a new buying bloc is realised. Sinopec, CNOOC, PetroChina and Sinochem are considering co-ordinating their purchases, Bloomberg reported. Some 44% of Chinese crude imports come from the Gulf; Saudi Arabia makes up the largest components at 16% of the total.

Issue 1104 - 06 June 2020

Iran: Electricity supply deal struck

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Iranian energy minister Reza Ardakanian signed a two-year electricity supply deal with Iraq in early June, during a trip to Baghdad. Ardakanian told the Islamic Republic News Agency (Irna) that Tehran had received $400m from Iraq, meaning half the bill has been paid in advance. Last month secretary of state Mike Pompeo extended the United States’ sanctions waiver for Iraq to import Iranian electricity for a further 120 days. The latest deal suggests Baghdad is confident there will be further extensions in the future.

Iran
Issue 1097 - 06 February 2020

UAE: Nuclear plants cause regional friction

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The UAE is preparing to bring its first nuclear power plant on stream in the near future, in a controversial move to reduce its carbon footprint. A recent assessment by the World Association of Nuclear Operators concluded that Unit 1 of the Barakah plant is ready to start. A final decision to switch it on is expected soon from the Federal Authority for Nuclear Regulation.Barakah 1 is the first of four reactors being built 220km west of Abu Dhabi by the Korea Electric Power Corporation, each capable of generating 1.4GW.

United Arab Emirates (UAE)
Issue 1097 - 06 February 2020

Saudi Arabia: Neom to build solar dome

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The futuristic city of Neom, being developed in a remote area in the north-west of the kingdom, is to use a novel solar power design for a desalination plant. A deal has been signed with UK-based Solar Water to build a “solar dome”, based on concentrated solar power technology, to provide electricity to the water plant. Work on the project starts this month and is due to be completed by end-2020.

Saudi Arabia
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Abu Dhabi has used its annual round of renewable energy (RE) events to unveil a series of grants and other financial support for green energy initiatives in developing economies. Each January, the UAE capital hosts the annual assembly of the International Renewable Energy Agency (Irena) and linked events such as Abu Dhabi Sustainability Week. This year, the Abu Dhabi Fund for Development (ADFD) announced $105m in funding for eight RE projects in the latest round of the Irena/ADFD Project Facility.

United Arab Emirates (UAE)
Issue 1094 - 13 December 2019

Kuwait: Loan for electricity network

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The Kuwait Fund for Arab Economic Development (KFAED) on 5 December agreed a KD29.5m ($100m) loan to Bahrain to help finance a 400kV electricity transmission network project, which forms part of the government’s fiscal balance programme. The 25-year loan includes a grace period of seven years after which it will be repaid in 36 semi-annual instalments.

Kuwait
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The massive attack launched on the critical Saudi Aramco oil processing facilities at Khurais and Abqaiq early on 14 September was not just another drone strike by the Houthis – as the Yemeni movement claimed – but in all likelihood was launched from Iran, reflecting the extent that the Islamic Republic has emerged as a significant military power. As well as placing unexpected new pressures on the global oil market, it pitched Crown Prince Mohammed Bin Salman (MBS) and the Saudi leadership into yet another crisis.

Saudi Arabia
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Baghdad has held talks with neighbouring Gulf Co-operation Council (GCC) states about connecting to the regional power grid, as it reassesses its relations with Iran and is courted by GCC power-brokers to change political direction.Iraq’s effort to broaden its sources of energy imports led to Baghdad in early June signing a memorandum of understanding with Saudi Arabia that could see 280km of power lines being built to connect the two countries.

Iraq
Issue 1083 - 21 June 2019

UAE: Dewa explore floating PV

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Emirate utility Dubai Electricity and Water Authority (Dewa) has issued a request for proposals for consultants to support the development of floating solar photvoltaic (PV) projects. In its RfP announcement – which gave no details of how to apply – Dewa said it was seeking consultants to prepare “a feasibility study, the technical requirements for a floating solar photovoltaic plant, an environmental impact assessment report, a study of the marine requirements and other necessary studies on setting up electrical transmission, a safety plan, and... seawater feasibility studies including tidal and system speci[cations and system performance”.

United Arab Emirates (UAE)
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Witnessed by the two countries’ leaders, German engineering giant Siemens and the Ministry of Electricity have signed an agreement to implement the ‘Siemens Roadmap for the Electrification of the New Iraq’, which covers the short-, medium- and long-term addition of new highly efficient power generation capacity, the rehabilitation and upgrading of existing plants and the installation of new transmission and distribution infrastructure. In a 30 April statement, Siemens said three contracts valued at around E700m had been awarded under Phase 1 of the ‘Iraq Roadmap’.

Iraq
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Abu Dhabi-based Arab Investment and Development Authority (AIDA) has signed a deal with Ukraine’s STC Energy to develop solar power plants in the east European country to generate 170MW of electricity. AIDA is reportedly to provide $2bn in backing for the project. The agreement was signed by AIDA chairman Adil Al-Otaiba during an event held by the Ukrainian Chamber of Commerce in Dubai on 28 March. The deal reportedly also involves co-operation in agriculture and rural development.

United Arab Emirates (UAE)