DUBAI, 30th May, 2022 (WAM) — H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, chaired the 70th meeting held virtually.
Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, participated in the meeting.
The meeting was also attended by Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, and board members Dawood Al Hajri, Director-General of Dubai Municipality; Saif Humaid Al Falasi, CEO of Emirates National Oil Company; Juan-Pablo Freile, General Manager of Dubai Petroleum; and Nasser Abu Shehab, CEO of the Strategy & Corporate Governance Sector at Dubai’s Roads and Transport Authority.
The meeting discussed several topics, most notably the current situation of the petroleum derivative trading market after implementing the policies and procedures last year, which had a positive impact on improving safety practices and reducing risks. The procedures encouraged distributors to abide by the conditions approved by the Supreme Council of Energy. They also created a supportive organisational structure for the sector by unifying processes with distributors due to the cooperation of accredited national companies. The meeting also reviewed the regulation of district cooling services.
“In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to promote the sustainable development and increase the share of clean and renewable energy through the use of green solutions, the meeting reviewed promoting innovative district cooling solutions that are more efficient with lower carbon emissions, compared to conventional central or regular cooling systems. In line with Directive No. 3 of 2021 issued by His Highness, the Chairman of the Dubai Supreme Council of Energy on regulating Liquefied Petroleum Gas (LPG) trading, a governance system was developed to regulate the LPG sector by encouraging distributors to abide by the laws. This had a positive impact on the sector,” Al Tayer said.
“The main objective of Directive No. 3 of 2021 was to outline the regulatory framework, strategies and regulations for the trading of LPG and its derivatives in Dubai, in accordance with the highest international standards in this regard. We also aim to regulate business practices and implement the highest international safety and security standards as well as ensure transportation, storage and distribution of LPG according to the approved criteria in the UAE,” Al Tayer added.
For his part, Al Muhairbi said, “During the meeting, the board members reviewed the Dubai Executive Council Resolution No. 6 of 2021 regulating the provision of district cooling services in Dubai. An additional set of measures have been approved to regulate district cooling services as well as the relationship between service providers and consumers to regulate this vital sector.”
“After holding consulting meetings with the relative entities, we have reached the final stages of the regulatory framework to improve the efficiency of district cooling plant operations and achieve optimal cost to ensure the happiness of customers in Dubai,” he said, in conclusion.