The first OQ energy efficiency Conference which will take place on the 27th January, 2021 in Muscat, Oman will be a great opportunity to engage stakeholders from across the Sultanate to share best practices and case studies of successful energy efficiency projects in the industry as well as discuss enablers that can enhance the energy efficiency market of Oman.
The conference is organized by Oman’s OQ, a global integrated energy company with roots in Oman and with operations across 16 countries. OQ covers the entire value chain from exploration and production to marketing and distribution of end-user products. OQ’s Alternative Energy business unit has a broad scope across the full alternative energy landscape and is predicated on three pillars: Green Molecules (green hydrogen, green synthetic fuel, green ammonia and green methanol), Energy Assets (renewables, biofuels, CCUS, etc), as well as energy efficiency and Optimisation (aim to achieve a global footprint, leveraging existing OQ assets around the world to generate a diversified revenue stream of over $400M EBITDA from Alternative Energy by 2030).
The conference offers a platform for discussion, sharing ideas and exchange of expertise between industry leaders of energy companies.
Energy efficiency (EE), relating to the efficient use of primary fuels, heat and power, is key to reducing greenhouse gas emissions and decreasing the pressure on energy supply (WEF, 2015). The Middle East is starting to put a strong emphasis on having government policy and implementation plans in energy efficiency driven by few economic and fiscal planning factors among which is electrical demand. This is especially important as electricity demand in the Middle East is set to triple by 2050. (DNV-GL, 2019).
Energy efficiency is centrally important to social development, economic growth and resilience, and clean energy transitions. Many countries have successfully implemented energy efficiency policies, resulting in a range of positive outcomes in terms of jobs, health, security, grid resilience and access. The IEA analysis shows there is still significant untapped energy efficiency potential and a concerning slowdown of global efficiency progress in recent year. (IEA, 2020)
We see AE as fundamental to realising our vision of building a locally and globally integrated energy company.