SNOC and Sewa historic pact to meet Sharjah’s energy needs
Sheikh Sultan Bin Ahmed Al Qasimi welcomed the development and lauded the SNOC, Sewa and Adnoc teams for their efforts to meet Sharjah’s growing energy demands
Sharjah National Oil Corporation (SNOC) and Sharjah Electricity, Water & Gas Authority (Sewa) have signed an agreement in which SNOC is now contractually responsible for delivering nearly all of Sharjah gas demand.
To meet its obligation, SNOC is drawing on a porfolio of its own production, as well as gas imported from Abu Dhabi National Oil Company (Adnoc), with whom SNOC entered a 10-year supply agreement that started in July 2021.
Sheikh Sultan Bin Ahmed Al Qasimi, Deputy Ruler of Sharjah, Chairman of Sharjah Petroleum Council and President of Sharjah National Oil Corporation welcomed the development and lauded the SNOC, Sewa and Adnoc teams for their efforts to meet Sharjah’s growing energy needs.
Sheikh Sultan Bin Ahmed Al Qasimi said: “While we all recognise that this is a historic event for SNOC, we also appreciate the great responsibility that comes with it. SNOC has been entrusted to make sure that Sewa always has the right quantity of gas that it needs to keep the lights on in Sharjah, as well as maintain the supply of water. I am confident that, with our people in SNOC and the cooperation of Sewa and Adnoc, we shall meet our obligation in the smoothest possible manner.”
Saeed Sultan Al Suwaidi, Chairman of Sharjah Electricity, Water and Gas Authority, welcomed the development saying: “To secure a reliable gas supply, Sewa has diligently worked with SNOC to provide the most realistic gas demand forecast, taking into account the new IPP schedule and potential delays due to COVID-19. Sewa’s and SNOC’S magnificent cooperation has resulted in the most flexible technical and commercial contract. Sewa will continue to provide their best cooperation to assure the success of this gas deal.”
Hate mal mos a, chief executive officer of snoc, said: “From the first year SNOC was established, it started exploring ways to resolve Sharjah’s gas supply challenge. It has taken years of planning and diligent work to get to this point. SNOC would like to recognise the support and cooperation of Ad no cm an age men ta nd teams, who were involved in securing a long-term gas supply agreement.”
In 2019 SNOC and Adnoc signed an interim contract to close the gas supply gap with Sewa. This contract was later fortified with a 10-year gas supply agreement, which started in July 2021.
Gas is now flowing smoothly from SNOC’S porfolio to Sewa, including regular supplies from Adnoc, in accordance with the provisions of the signed contracts.
SCCI EXPLORES TIES PORTUGUESE DELEGATION: The sh arj ah chamber of commerce& industry (SCCI) on Monday discussed with a Portuguese delegation, headed by Eurico Brilhante Dias, Portugal’ s Secretary of State for International is ation, ways of strengthening economic relations between Sharjah and Portugal.
This came during a meeting with Abdullah Sultan Al Owais, Chairman, SCCI, in the presence of SCCI’S Director-general Mohamed Ahmed Amin Al Awadi. The meeting explored the areas of cooperation between the two countries and the importance of organising joint programmes that serve the interests of their business communities, as well as a trade mission to Portugal in 2022, to enhance economic, trade and investment bilateral relations. Al Owais highlighted the strong ties that Sharjah shares with the Portuguese business community, a testament to which was the launch of the first Portuguese Business Council in Sharjah in January 2021.
He added that SCCI constantly strives to enhance the emirate’s trade relations with Portugal by promoting trade and business visits, and participating in trade events held in Sharjah and Lisbon.
Al Owais also showcased before the Portuguese delegation Sharjah’s economic growth and future projects across all sectors, and invited Portuguese businessmen and companies to invest in Sharjah and participate in relevant international events, as they provide invaluable opportunities to forge partnerships with UAE companies and institutions.
For his part, Dias expressed his country’s eagerness to enhance trade relations with Sharjah, noting its keenness to learn from SCCI’S leading distinctive experiences in supporting its local business community and atracting foreign investment.
He also described the UAE, and Sharjah in particular, as an ideal economic partner to the Portuguese business community, and invited SCCI to visit Portugal’s pavilion at Expo 2020 Dubai, which will provide leading plaform to Separately, a total of 16,000 new companies joined Dubai Chamber in the first eight months of 2021, bringing its total membership to over 275,000, a year-onyear growth of 68.5 per cent.
The value of ATA Carnets, international customs documents that permit temporary import of duty-free and tax-free goods, issued by Dubai Chamber and received by the country, between January and August 2021, reached Dhs2 billion, a growth of 47 per cent. This reflects an uptick in activity in the Meetings, Incentives, Conferences & Exhibitions (MICE) industry.
Meanwhile, the number of ATA Carnets issued by the Chamber and received by the country, increased 5.1 percent over the same period, reaching 2,188 in the first eight months of 2021. The ATA Carnet system is managed by Dubai Chamber in cooperation with Dubai Customs, facilitating the temporary entry of imports to Dubai.
Hamad Buamim, President & CEO of Dubai Chamber, said the latest figures reflect improving business confidence in Dubai, economic competitiveness and the emirate’s growing appeal among investors and companies from around the world. The membership growth is also a result of the various business-friendly measures and incentives introduced by the government in recent years.