Khaleej Times cited Mr Mohammed bin Dhaen Al Hamili energy minister of UAE as saying that a new crude oil pipeline that will bypass the strategically sensitive Strait of Hormuz is almost finished.

He declined to when the pipeline would open though his comments suggest it could become operational soon. The Abu Dhabi Crude Oil Pipeline project aims to ship crude from the UAE’s main oil producing region to the port of Fujairah on the country’s Gulf of Oman coast. That would allow some of the OPEC member’s oil to avoid the Strait of Hormuz, access to which is shared by Iran and Oman.

The minister said that peak demand for electricity in the UAE will double by 2020. Gulf nation seeks to generate 25 per cent of its power from nuclear plants and 7% from renewable energy sources. A diversified energy mix including nuclear power would allow for greater hydrocarbon exports in the future. Widening the domestic fuel mix releases more hydrocarbons for export.

The UAE’s first nuclear plant will be commissioned in 2017. Atomic energy would eventually make up 25% of power requirements in the Gulf Arab state. The country is investing billions of dollars into developing renewable sources of energy as part of plans to diversify its energy portfolio.

(Sourced from www.khaleejtimes.com)