UAE energy demand up 5.2% in 2011

Energy demand in the UAE grew by around 5.2 per cent in 2011, maintaining its position as the second largest Arab hydrocarbon consumer and reflecting high growth in its economy, according to official data.

From around 1.48 million equivalent barrels per day (ebpd) in 2010, domestic consumption of crude oil, gas and other energy sources increased to nearly 1.56 million ebpd, showed the figures by the Kuwaiti-based Organization of Arab Petroleum Exporting Countries (OAPEC).

Energy demand in the UAE, the second largest Arab economy, has steadily risen over the past years, recording a growth of about nine per cent since 2007, one of the highest energy growth rates in the world.

Energy consumption in the UAE recorded its highest growth of around 22.9 per cent in 2008 as a result of an upsurge in its economy after crude prices leaped by nearly 50 per cent to an average $95 a barrel.

The figures showed the increase last year allowed the UAE to maintain its position as the second largest Arab energy consumer after Saudi Arabia although it has one of the smallest populations in the region.

Energy consumption in Saudi Arabia, the world’s oil superpower, stood at 3.22 million ebpd while Egypt came third, with around 1.43 million ebpd.

Qatar, the world’s top LNG exporter, was the fourth consumer with domestic demand standing at 730,000 ebpd in 2011. Consumption was put at 725,000 ebpd in Iraq, 680,000 ebpd in Algeria, 540,000 ebpd in Kuwait, 530,000 ebpd in Libya, 433,000 ebpd in Syria and 340,000 ebpd in Bahrain.

The report showed the UAE was also the second largest Arab gas consumer, with demand of round 1.18 million ebpd. Saudi Arabia was the top regional gas consumer with around 1.28 million ebpd.

Qatar came third with 620,000 ebpd, followed by Egypt with 615,000 ebpd, Algeria with round 310,000 ebpd and Bahrain with 290,000 ebpd.

Saudi Arabia was also the largest oil products consumer in the region, with domestic demand standing at 1.94 million bpd. It was followed by Egypt with nearly 715,000 bpd, Iraq with 515,000 bpd, Kuwait with 460,000 bpd, Algeria with 355,000 bpd and the UAE with about 340,000 bpd.

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