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| Gulf countries sign power exchange pact |
| Press Trust ofIndia / Dubai Jul 08, 2009, 10:00 IST |
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Gulf Cooperation Council (GCC) today signed a power exchange agreement towards "regulating relationship" between its member countries, as part of an electricity linkage project.
Chairman of GCC Interconnection Authority (GCCIA), Yousef Al-Janahi, told a press conference that the pact was approved by members of GCC Electricity and Water Cooperation Committee.
"The agreement is aimed at regulating the relationship between the six countries, while placing basic conditions for exchange of energy between companies in these countries which would be linked to the GCC electricity grid," Al-Janahi was quoted as saying by Kuwait's news agency KUNA.
This was the second deal signed within the framework of the GCC linkage project, which was two years in the making. Its member countries include, Bahrain, Saudi Arabia, Qatar, Kuwait, UAE and Oman.
Al-Janahi added the GCCIA was now forming committees mentioned in the agreement, including consultative, organisational, planning and operational.
The first stage of the project has been completed, connecting Saudi Arabia, Bahrain, Qatar and Kuwait, the GCCIA Chairman said, adding the actual grid operation will start this week.
The second stage, which include raising efficiency of the electricity networks in the UAE and Oman, has also been completed, Al Janahi added.
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