Sheikh Mohammed creates authority to oversee development of oil and gas sector
The ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum has issued a decree setting up a Supreme Council for Energy to supervise the development of the sector.
The council will oversee the exploration, production, storage and transport of natural gas and crude oil.
The decree will also cover the production and transport of petroleum products and fuel; the generation, transmission and distribution of power; power generation from renewable resources; and nuclear power.
The law extends to the water sector, covering desalination and district cooling as well as the production, storage, transport and distribution of water and wastewater.
The council is responsible for the energy sector to meet future demand in the emirate.
It will prepare a strategic energy plan for Dubai and update it at least every three years.
The council aims to reduce the sector’s impact on the environment and formulate demand-management policies.
It will set tariffs and determine the level and source of government subsidies on energy and review existing contracts with regional and international companies.
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