Kuwait cuts the encryption mining to save energy

• Kuwait suffers from the problem of power deficiency
• Stepse for intense energy
• Struggle to diversify the power mix

Kuwait has started this week as an illegal mining activity in the cryptocurrency mining, as the intense energy sector places the pressure on the problem of severe energy shortage in the Gulf state.

Industrial facilities in the country were informed earlier this month To suspend operations for six hours a day During the summer, as part of the power rationalization plan.

The Ministry of Interior said that the coded currency mining, banned in Kuwait, was putting a great depletion of electricity resources, which leads to power outages in some residential areas.

Nearly 30 people have been arrested and 50 houses were seized as part of ClayPdown, According to the local media.

This comes at a time when local electricity in Kuwait cannot be produced to meet the summer demand due to the limited generation capacity, excessive dependence on fossil fuels and delaying maintenance in the existing plants.

However, the country is part of the Bad Commission in the Gulf Cooperation Council, and it is an interconnected network between the Gulf states, and last year it bought electricity from neighboring countries. But this turns out that it is not enough.

Last year’s consumption in Kuwait exceeded 17,000 megawatts per person per person for the first time, and overwhelming local production, which led Kuwait times I mentioned this month.

Despite the powerful production of oil and large reserves, the power outages in the country have exacerbated the lack of investment and lack of efficiency in the energy sector, according to energy experts.

“Energy generation projects often face delays, spread renewable energy storage and energy storage are still slow, and the country’s electricity network infrastructure is fragile,” Jessica Obaid, the founding partner in New Energe, tells Dubai, tells Jessica Obaid, a consulting partner in New Energ in Dubai, AGBI.

“On the other hand, the demand continues to escalate, and exacerbate due to severe heat waves, which increases dependence on air cooling and huge benefits.”

She says these chronic issues lie in a deeper problem.

Obaid says: “The unstable political environment in Kuwait hinders effective government, long -term strategic planning and implementation, and there is no more clear place than the electricity sector.”

Power mixture diversification

Kuwait relies heavily on imported gas and is late behind the neighboring Gulf states in terms of diversifying the energy mix. According to the International Energy Agency, natural gas is the largest source of electricity generation in Kuwait, with a 52 % stake, followed by oil, its share of 47 percent.

“While Kuwait is a major source of energy, it continues to rely heavily on the natural gas imported for half of the power generation, which creates a unique form of energy insecurity,” says Karim Elgendy, CEO of the Carbon Institute, Energy Policy Research Tank.

“In contrast to some of its neighbors in the Gulf, such as the United Arab Emirates, Qatar and the Kingdom of Saudi Arabia recently, Kuwait has not diversified a great power or investment in large -scale renewable energy projects.”

Analysts believe that the long -term energy security in Kuwait lies in accelerating the efforts of diversification in renewable energy sources and repairing subsidies to reduce excessive consumption.

“In the short term, Kuwait may need to rely heavily on regional cooperation, such as the energy network in the Gulf Cooperation Council, to manage the peak of demand,” says Elgeendy.

The Kuwaiti government provides large subsidies for the electric tariffs for consumers, which leads to a decrease in electricity costs for the public. However, these benefits also create an incentive for consumers to provide electricity, says experts.

Since 1966, Kuwait has distributed electricity to citizens for 0.7 American cents per kilowatt hour, which is the sixth in the world, according to a report issued by the Houston Research Center, and the Baker Public Policy Institute in January.

“The repair of energy benefits to encourage greater efficiency can play a vital role in reducing demand growth and improving the comprehensive energy sector,” adds.

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