UAE has developed strategy to keep pace with global developments in energy sector: Fujairah Ruler

FUJAIRAH, H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, stated that the UAE has developed a business strategy to keep pace with rapid global developments in the energy sector.

This strategy ensures that the nation can deal with the challenges facing the sector, as well as exploit opportunities in the areas of trade, storage, bunkering, shipping, refining and ports, he added.

Sheikh Hamad also pointed out that Fujairah, which has benefitted from its geographic location and strategic vision, recently upgraded its infrastructure and logistics services and drafted expansion plans for the oil storage sector, to meet the future requirements of the global energy sector, confirming its position as a global centre of the oil industry and the oil storage and export sectors.

He made this statement during a meeting with the participants of 9th Gulf Intelligence Energy Markets Forum, at the Rumaila Palace, in the presence of H.H. Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Fujairah Industry and Economy Department. Fujairah Oil Industrial Zone with its highly sophisticated yet flexible infrastructure hosts the Middle East’s largest commercial storage capacity for refined oil and crude oil products.

The forum was attended by Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO, and a number of industry leaders.

Sheikh Hamad welcomed the forum’s guests while wishing them success in their work, as well as in drafting a clear business strategy to deal with global trends in the field of energy.

He also invited the forum’s guests to explore Fujairah’s experience as a global centre of the oil industry and the oil storage and export sectors, as well as to discuss the industry’s expansion strategy and development beyond 2020.

The forum’s guests thanked Sheikh Hamad for his welcome and for supporting the work of the forum.

Source: Emirates News Agency