Middle East Energy Market Booms

Posted on Feb 3, 2012 in Emirates-Middle East, UAE Energy

The King Abdullah City for Atomic and Renewable Energy

The energy market in the Middle East continues to boom as governments across the region invest billions in new energy projects. The UAE now has 20 projects underway or in the planning stages underway worth $34.2 billion. Power, water and energy projects across the region are value at a total of $180 billion. In a period when energy demand across the region is growing at 8 to 10 percent annually, the region is actively pursuing alternative energy sources.

The UAE is one of the most active markets in the region with the construction of a $20 billion nuclear reactor that began last year. The market in Saudi is huge due to the US$100 billion King Abdullah City of Atomic and Renewable Energy. Construction begins on that venture next year. Qatar, Bahrain, Kuwait and Oman are also regional energy leaders.