Search DubaiPRNetwork.com

Home >> Energy and Industry

Global energy shifts set to transform the Middle East energy sector

Tuesday, February 13, 2018/ Editor -  

Share

Home >> Energy and Industry
Recent A.T. Kearney report released during the World Government Summit identifies three key steps required for the Middle East to prepare for the future of energy
 
Dubai, United Arab Emirates 13 February 2018 —   Growing global diversification of the energy mix and an increased share of natural gas, renewables and electrification, is challenging conventional approaches and business models in the energy value chain. Oil rich nations have a window of opportunity to transform and be well positioned to benefit from this shifting global energy landscape, according to recent report “The Great Energy Shift”, produced by global strategic management consultants, A.T. Kearney. 
 
Eduard Gracia, principal at A.T. Kearney said: “Market trends along the energy value chain are dramatically changing the landscape. We expect an energy market characterized by increased demand in addition to increased electrification, supply fragmentation and consumer power. This will over time lead to stabilization of energy prices and a convergence of energy markets”. 
 
According the report, three recommendations which will support oil-rich nations and national oil companies in the region to effectively address the global disruptive changes of the energy sector – embrace renewables; leverage gas reserves and expand down the value chain. 
 
Sean Wheeler, partner, A.T. Kearney said, “Our industry is rapidly changing. Global energy transition will lead to a broader mix of energy sources and a more fragmented supply, also in this region.” 
 
Many of the regional oil players have already initiated projects to prepare for the great energy shift ranging from investments, into solar energy and gas, to increasing downstream oil and gas investments. 
 
Commenting on this strategy, Rudolph Lohmeyer, vice president A.T. Kearney Global Business Policy Council said, “The Middle East enjoys an important advantage due to both its comparatively cheap hydrocarbon reserves and its geographic location. At these times of change, it is key that nations and national oil companies manage uncertainty by applying the disciplines of strategic foresight to their decision-making. This is particularly critical for a sector in which the returns on capital investment unfold over decades.”
 
The report concludes that oil rich nations must focus their investments on opportunities that leverage their competitive advantages, an educated workforce and the ideal geographic location. 

Previous in Energy and Industry

Next in Energy and Industry


Home >> Energy and Industry Section

Latest Press Release

du Bags Service Hero 2017 Award for Best Customer Service

In 2018, the French Tech pavilion powered by Business France will be present in ...

Growth in Manufacturing pushes SIMCO to expand in to Oman and Kuwait as it boost ...

'Celebrate Mother's Day in 'Swiss Style' with Gilda from Eberhard & Co.

LG V30s Thinq With New Integrated AI Debuts at MWC2018

The Key Trends for the Luxury Goods Industry in 2018

P&G's Olympic Global campaign Love Over Bias celebrates diversity with the UAE's ...

Panasonic's LUMIX GX9 is the Ultimate Flat Compact Digital Single Lens Mirrorles ...

Nissan and DeNA to start Easy Ride robo-vehicle mobility service trial

Epson at GESS to showcase smart classroom solutions

Mashreq Bank Selects Blue Prism to Drive Innovation Across All Banking Functions

G4S UAE honours outstanding employees at annual awards

Cisco 2018 Annual Cybersecurity Report Reveals Security Leaders Rely on and Inve ...

Q4 2017 Akamai State of The Internet / Security Report Shows Botnets Shift Focus ...

WHAT SHE SAID PREMIERS IN THE MIDDLE EAST

Korean beauty brand ETUDE HOUSE partners with Alshaya to debut in the Middle Eas ...

Svitolina Beats Kasatkina to Win Dubai Duty Free Tennis Championships

Beautiful Freaks Jade Reborn

Mother of the Nation Festival returns to Abu Dhabi

John Lewis Home for Timeless Designs