Saudi Arabia to save energy through insulation

JEDDAH Sat Feb 12, 2011 6:49pm IST

Related Topics

JEDDAH (Reuters) - Top oil exporter Saudi Arabia plans to cut up to 40 percent of its energy use, largely by enforcing investment in insulation, its water and power minister said on Saturday.

Power demand in the top OPEC producer is rising at an annual rate of 8 percent, requiring investments of close to $80 billion by 2018.

Without reducing the rate of energy consumption growth, the kingdom could see oil available for export drop some 3 million barrels per day (bpd) to less than 7 million bpd in 2028, Khalid al-Falih, the chief executive of state oil firm Saudi Aramco said last year.

"Insulation in homes is expected to lower energy consumption by 40 percent," Hussayen said on Saturday. "Now it will be mandatory and we are working on implementing it," he said, giving no timeframe.

He added that air-conditioners make up for 70-80 percent of energy used.

The kingdom has established the King Abdullah City For Atomic and Renewable Energy (KA-CARE) to diversify its energy mix and reduce its dependence on fossil fuels domestically that it would rather export.

(Reporting by Asma Alsharif; Editing by Reem Shamseddine and Patrick Graham)

FILED UNDER:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage