Ghasemi, Dr Mirza, Dr al-Sada, Dr al-Busairi, Dr al-Rumhy and al-Hamli at the panel session yesterday. PICTURE: Shemeer Rasheed
By Bonnie James/Deputy News Editor

An open and transparent energy market should be created in the Middle East, Oman’s Oil and Gas Minister Dr Mohamed bin Hamad al-Rumhy urged at the first plenary session of the 20th World Petroleum Congress yesterday.
“Our region is one of the few in the world without an energy market,” he pointed out while elaborating on the macro and micro aspects of the problems in the energy sector in the region.
“On the macro scale, our problem is more of a strategic one or lack of it (strategy),” Dr al-Rumhy stated at the session on ‘Energy solutions from the Middle East’, before putting forward his suggestion for an energy market in the region.
Referring to a micro scale approach, the Omani Minister proposed that every single consumer in the region should be included in the picture to find a solution for energy issues.
“Conservation is not in our blood. We do not talk about energy savings, which is still in the footnotes of our writings. Our ability to provide subsidies to our consumers encourages waste,” he said.
Citing an example from Japan, Dr al-Rumhy recalled that the Japanese managed to save 15% energy this summer when faced with an acute shortage.
Kuwait’s Oil Minister Dr Mohamed Mohsen al-Busairi called upon Opec countries to expand production so as to meet global demand.
“Kuwait has been and will remain a secure energy supplier,” he stated while observing that the world will need more clean energy, especially in Asia.
Iran’s Petroleum Minister Rostam Ghasemi called for a free and depoliticised flow of investment in the energy sector and respect for bilateral and multilateral rights.
“The world requires a sustainable energy flow. The oil and gas industry needs investment. The right equipment, experienced manpower and adequate financial resources play a major role,” he said.
Ghasemi was of the view that “belligerent and discriminatory approaches have tightened investment’ (in the energy sector) and this will have adverse impact on consumers rather than producers”.
The Iranian Minister stressed that the gas industry should learn lessons from the oil industry and ensure co-operation, transparency and prevent harsh price fluctuations.
Bahrain’s Oil and Gas Minister Dr Abdul Hussain bin Ali Mirza stated that the engine of growth will remain in Asia while pointing out that a catastrophic situation was averted during the economic recession by China, India and to some extent by the Middle East.
UAE’s Energy Minister Mohamed bin Dhaen al-Hamli gave an overview of the existing and upcoming energy projects, including those focusing on non-fossil fuels.The session was chaired by Qatar’s Energy and Industry Minister HE Dr Mohamed bin Saleh al-Sada.

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