Opportunities & Challenges in Reforming Energy Prices in GCC Countries

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About the Project

The workshop series “Energy Systems Modeling” provides a forum for discussing key sustainability issues in transportation, and current policy strategies to address them. In particular, much emphasis is placed on the adoption of fuel-efficient and alternative-fuel vehicles for road transportation, innovation in fuel and vehicle technology mixes and the shift from road to other modes of transportation

Key Points:

The recent fall in oil and natural gas revenues has brought renewed attention to domestic energy pricing issues among GCC governments. Fuel and feedstock prices are typically set below world market prices to support domestic energy-intensive activities such as petrochemicals production. GCC members can explore different pathways for reforming energy prices, as demonstrated by the successes in Dubai and Tunisia. Such reforms result in more efficient production and consumption of energy and a positive contribution to a nation’s finances.
  • To remain competitive in the global market, domestic energy-intensive industries – such as petrochemicals – have long benefited from government subsidies in the form of low natural gas prices.
  • Trading natural gas among GCC countries could bring joint gains while allowing the petrochemical industry to maintain its competitiveness.
  • Although pricing distortions in domestic markets create obstacles to determining fair trading prices between countries, the power generation sector could gain tremendously from electricity trading, especially since an interconnected network is already in place.
Dataset Identifier
opportunities-challenges-in-reforming-energy-prices-in-gcc-countries
Themes
KAPSARC Publications
Keywords
Workshop series, Energy Systems Modeling
License
Open Database License (ODbL)
Language
English
Modified
13 June 2016 09:54
Publisher
King Abdullah Petroleum Studies and Research Center
Reference
https://www.kapsarc.org/wp-content/uploads/2016/06/KS-1629-WB028A-Opportunities-and-Challenges-in-Reforming-Energy-Prices-in-GCC-Countries.pdf
Attributions
Country
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates
ISO region
EMEA
Source copyrights
https://www.kapsarc.org/terms-conditions/
Data classification
Public
Territory
World ,
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Last processing
26 February 2024 11:50 (metadata)

DCAT

Created
13 June 2016
Issued
13 June 2016
Creator
King Abdullah Petroleum Studies And Research Center

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