UAE energy minister participated in Asia energy ministerial meeting

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, has stressed the current role played by the UAE to meet the needs of the Asian market for energy, and the strategy adopted by the UAE in the diversification of energy sources to reduce dependence on self-generated sources, along with adding new complementary and sustainable sources such as nuclear and renewable energy. In a speech made during his participation in the 5th Asia Energy Ministerial Meeting hosted in Seoul, Mr. Al Mazrouei pointed out that the UAE will need to consume large amounts of its own production, perhaps 1.8 million barrels of oil per day, by the year 2024, if it did not pursue this wise policy . He noted the UAE's plan to increase its production capacity up to 3.5 million barrels per day by the year 2017, from the current capacity of 3 million barrels per day. Mr. Al Mazrouei went on to praise the diversity of energy sources pursued by the UAE, becoming the first of its kind in the region to do so. He thanked the Republic of Korea for hosting the forum and for the warm hospitality accorded to the UAE delegation. On the sidelines of the event, the Minister of Energy held several meetings with energy ministers from Japan, South Korea and India. These meetings come in line with the consolidation of bilateral relations between the UAE and these countries, and in support of joint cooperation in various fields, including energy exchange expertise.