Saudi Arabia spends SAR 100 bln on ‘unprecedented’ energy needs: Report

Saudi Arabia spends SAR 100 billion to support the country’s growing electricity and fuel needs, said Abdullah Alshahry, governor of the Electricity and Cogeneration Regulatory Authority.   

The kingdom’s fuel consumption rates have reached "unprecedented" levels as it moves to keep up with the pace of development for its infrastructure projects and rapid population growth, he said in a report published by Asharq Al-Awsat newspaper.

The Authority is currently working to complete its electricity-sharing agreement with Egypt by 2015. 

Saudi's electricity will also be connected with the six Gulf states, he added. The first phase, which links the kingdom with Kuwait, Bahrain, and Qatar, has already been completed.

The second phase will include the United Arab Emirates, Oman, and the rest of the Gulf countries.