Fujairah is racing against time to strengthen its position

The United Arab Emirates, UAE, is making strenuous efforts to keep abreast of the rapidly transforming global energy landscape, H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, said in his inaugural address at the 7th Gulf Intelligence Energy Markets Forum 2017 on Tuesday.

The Forum was held under the them: The Gulf Energy Sector Accelerates: Retooling for 21st Century: How to Best Meet Opportunities & Challenges Presented by Asia’s Competitive Appetite & Growth? ''The UAE is making optimum investment in energy to deliver objectives of the UAE Vision 2021, which seeks to maintain a stable, diversified economy that achieves sustainable development,'' he told the gathering of industry leaders and experts.

''Fujairah is racing against time to entrench its position as a world centre for oil logistics industries,'' he said, noting that Fujairah Port, one of the world's largest bunkering hubs, is bracing to meet increasing demand for oil and gas as world energy consumption is projected to grow by 48 percent by 2040.

Apart from featured interviews, interactive surveys, a leadership panel, and a debate session, the forum hosted a number of industry roundtables led by industry experts and thought leaders. The industry roundtable, titled, "Storage Outlook: What’s the Outlook on the Impact of Sinking Oil Prices and Altering Demand Flows on Oil Storage?" delved into the future challenges faced by a still-volatile energy market, and the ways in which leading players can remain close to their customers and maintain a robust business model that is sustainable through changing market conditions.

Attended by VIPs, government officials, senior executives and key media, the energy event provided both attendees and hosts with some invaluable insights and forward-looking trends.

Source: Wam