Economic 360 for the UAE: Growth Prospects and Emerging Opportunities in the Energy Industry

The energy industry in the UAE is highly dependent on the hydrocarbon sector. Most of the electricity is generated using natural gas and the rest through other fossil fuels. The demand for oil and gas is envisaged to rise steadily driven by the increase in the demand for electricity during the forecast period. The government is likely to make investments to increase the exploration and production activities in the upstream and downstream sectors. The government is also emphasizing on the development of an alternative to carbon based fuels. Steady development in the renewable sector is likely to create investment opportunities in solar, nuclear, and wind energy.