UAE affiliate of International Association for Energy Economics holds second luncheon address Attended by over 100 oil and gas professionals

Three leading energy economists presented outlook for global energy sector The Emirates Association for Energy Economics (EAEE), the UAE affiliate of the International Association for Energy Economics (IAEE), held its second luncheon address today. Attended by over 100 professionals from the oil and gas industry, key speakers from the International Energy Agency and OPEC gave presentations outlining the outlook for world energy markets, as well as the challenges and trends facing global oil trade. The leading industry experts participating in the session included Dr. Fatih Birol, Chief Economist at the International Energy Agency; Dr. Hasan M. Qabazard, Director of the Research Division at OPEC; and Johannes Benigni, Managing Director of JBC Energy in Vienna. According to Dr. Tilak Doshi, Executive Director of Energy, Dubai Multi Commodities Centre, “We are pleased to sponsor this gathering of oil and gas experts for the EAEE’s second luncheon address. It is clear that Dubai and the UAE are rapidly emerging as the region’s pre-eminent energy hub. This is reflected by an increasing number of energy companies and professionals making the UAE their regional base of operations. This event is proof that the EAEE is being firmly established as a key industry forum in the epicentre of the Gulf oil and gas region.” At the gathering, Dr. Birol elaborated on three major strategic challenges facing the global energy sector in the coming years: growing concerns over energy security, the consequences of global climate change and energy poverty in Sub-Saharan Africa and South Asia. Dr. Hasan M. Qabazard spoke about OPEC’s role in meeting future challenges in global oil markets. Johannes Benigni addressed challenges for both the upstream and downstream oil industry. Established in 1977, the IAEE is an international non-profit professional organisation whose members include business, government, academic and other professionals concerned with energy and related issues. It was set up with a mission to advance the understanding and application of economics across all aspects of energy, and promote communication among professionals in the energy sector. EAEE, the UAE affiliate of IAEE, was set up in August 2007 to harness the local knowledge base by establishing a group of energy professionals from government, corporate and academic circles for networking, discussion, education and exchange of ideas on energy issues in the UAE and the wider region. -ends- About DMCC DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. Rated 'A' by Standard & Poor's, it provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.