The Power export in Saudi Arabia reached 47 GWh in 2020
The indicator recorded a historical growth at a CAGR of 7.34% between 2017 to 2020
Why did power export in Saudi Arabia grow in 2020?
Prior to 2010, Saudi Arabia had no electricity import or export. The import and export of electricity were low over the 2011–2014 period. Between 2014 and 2018, country has always been a net exporter of electricity.
Saudi Arabia has one of the largest proven reserves of G and is one of the biggest exporters playing a major role in the Organization of the Petroleum Exporting Countries (OPEC). Although the government influences all aspects of business and industry, it has been encouraging private sector growth to diversify its economy and reduce unemployment. To increase foreign investment, Saudi Arabia acceded to the World Trade Organization in December 2005.
Saudi Arabia is working toward the production of power from renewable sources and playing an active role in the development of related new technologies. Saudi Arabia is looking to reduce the internal consumption of fossil fuels and use these resources for export, which will benefit the economy.
Supply Security
Saudi Arabia is self-sufficient, in terms of meeting its electricity requirements. With respect to energy security, Saudi Arabia possesses one of the largest oil reserves in the world which is used for power generation and export. Natural gas is also available for power generation, but none of the gas produced is exported.
Power consumption has been increasing at a rapid pace, due to a burgeoning economy and a growing population. A large amount of power is required for water desalination plants, due to the low availability of naturally occurring groundwater. This made it necessary for the country to use more oil for power generation, leaving less available for export. This is a development that Saudi Arabia cannot afford, and the government has therefore been focusing on increasing the share of non-oil fuels in its power mix.
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