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His Excellency Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance, Minister in Charge of Oil and Gas Affairs participated in the Petrotech 2014 conference and exhibition held in New Delhi, India from January 12 to 15, following an invitation from His Excellency Dr. M. Veerappa Moily, Minister of Petroleum and Natural Gas of India, marking the close cooperation between the two countries in the oil and gas sector and the petrochemical industry.

In his speech, Shaikh Ahmed highlighted the vision of the Kingdom of Bahrain to the challenge of securing safe and sustainable energy supplies. He reviewed a number of new energy strategies, initiatives, and developmental programs for enhancing the production of Bahrain Field, which is a key contributor to national economy.

The Minister pointed out the current indicators which showed that the Kingdom of Bahrain has tended to import gas in the future to meet the growing domestic energy demand. He said that the national oil body would study perceptions on building a liquefied natural gas plant in the Kingdom, and explore private enterprises using renewable energy opportunities. He mentioned the recently completed first phase of the pilot solar power project for the production of (5) megawatts. He stressed the importance of changing the culture of energy consumption in the midst of escalating energy costs. He also spoke of the urgent need to control carbon emissions in order to reduce energy consumption and enhance energy efficiency.

Shaikh Ahmed cited a number of programs and initiatives in Bahrain that contributed to this trend, including the Kingdom of Bahrain Energy Efficiency Programme (KEEP), launched in association with the World Bank, to work towards optimal use of energy, and showcases the principle of sustainability embedded in Bahrain’s Economic Vision 2030.The Ministry of Finance had also established a five-year plan in 2011 to reduce electricity consumption by 40%, under which an Energy Audit was conducted, fluorescent lights were replaced by (LED) lights and thermal insulations installed to windows to reduce external heat transfer into the office building. He also pointed to similar projects now underway at various government and private establishments to improve the green environment in the Kingdom of Bahrain.

The Minister said that participation in oil events provided the opportunity to conduct high-level discussions between oil and gas producing and consuming countries and to work towards strengthening relations. It also provided an opportunity to discuss energy sector investments, and future oil projects, other than appreciate the role of technology in the petroleum and petrochemical industries.

Shaikh Ahmed praised the deep rooted economic and trade relations between Bahrain and India, which was sustained by the binding Economic and Trade Cooperation agreement. He praised the prospects of a promising national economy and the enabling environment for the business sector to guarantee high-quality jobs in the countries.

The Minister was accompanied to India by Engineer Adel Khalil Al Moayyed, Chairman of the Board of Directors of Bahrain Petroleum Company (Bapco), Mr. Yousif Abdullah Hamoud, Assistant Undersecretary for Economic Affairs, Ministry of Finance and Engineer Abduljabbar Abdulkarim, General Manager of Bapco Projects.