Energy

Oman is scaling up investments in its electricity sector in a bid to boost production to meet spiralling demand. Plans are in hand to construct new power stations across the country and diversify sources of supply, though it will take some years before the Sultanate will have a comfortable cushion of excess generation capacity.

In line with a broader, nationwide policy of exploiting offshore oil and gas sources, recent moves in Sabah to develop a new gas field and link it up with the Sabah Oil and Gas Terminal (SOGT) should pay dividends for the state as it seeks to advance its energy and development plans.

The future of Bulgaria’s proposed Belene nuclear power plant (NPP) once again hangs in the balance after the decision formally to suspend the project while reassessment takes place. The 2000-MW station is seen as central to meeting Bulgaria’s energy needs and has strong government backing, yet questions of financing and safety remain. A new plant should also help boost the economy as Bulgaria is south-eastern Europe’s biggest electricity exporter, doubling its power exports last year, according to the international press.

An economy in full growth brings myriad benefits to a country but does have the potential to strain existing resources and infrastructure – as Ghana is finding out. Increasing urbanisation, combined with a rise in primary sector activity and planned industrial expansion have emphasised the need for additional electricity generation capacity in Ghana, prompting the government to adopt a multi-pronged approach to boost supply.

Thanks in large part to the number of hydrocarbons expansion projects that have taken place over the past few years, Qatar is expected to see sustained economic growth for the foreseeable future. According to an economic bulletin released by Saudi Arabia’s Samba Financial Group in late March, the country could see GDP growth in excess of 19% by the end of 2011. Similarly, nominal GDP is forecast to grow by 22.4%, from $122.3bn at the end of 2010 to $149.7bn by the end of 2011. These gains can be attributed primarily to the country’s rapidly expanding energy sector, which saw growth of nearly 36% in the third quarter of 2010, due to increased production and rising oil prices.

Investor confidence in Kuwait’s energy industry should get a welcome fillip from reports that the state-owned oil company is set to increase domestic oil refining capacity by more than 50% over the next five years.