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Mon 14 Jan 2019 12:01 PM

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Schneider Electric eyes expansion in 'smart' Gulf economies

Schneider Electric global chairman Jean-Pascal Tricoire said he believes that Gulf economies will be increasingly digital in a bid to cut costs

Schneider Electric eyes expansion in 'smart' Gulf economies
Schneider Electric global chairman Jean-Pascal Tricoire.

French multinational Schneider Electric sees “quite a lot” of room to expand in the Gulf region, as countries increasingly turn to digitisation to improve the efficiency of their energy operations, according to global chairman Jean-Pascal Tricoire.

Speaking to Arabian Business, Tricoire said that Schneider sees potential in this region driven by an ambition to build new, ‘smart’ cities and of companies to “embrace the possibilities” of digitisation.

As an example, Tricoire pointed to the Abu Dhabi National Oil Company (ADNOC), which whom Schneider is working to help digitise its operations.

Last year, Schneider and ADNOC announced that the two had worked together to form a “Panorama Command Centre’ to provide real-time insights on the global operations of 16 different ADNOC operating companies.

“ADNOC has the will to go beyond where it’s been before and to be on the best level of efficiency to compete on a global scale,” he said. “Oil and gas companies are willing to go beyond the production of oil and into the creation of new industries…all this generates a lot of capabilities and a lot of potential for our company.”

In the future, Tricoire said he expects that Schneider’s business in the region will grow as Gulf countries seek to mitigate high levels of spending.

“The easiest part of spending to tackle is linked to inefficiencies in energy, or that you have in the management of facilities,” he said. “In both cases, digitisation can lead to 30 percent gains [in savings] and that means that budgets are more balanced and that governments can invest in education and in the well-being of citizens.”

According to a January 2017 report from the World Economic Forum, energy digitisation has the potential to unlock $1.6 trillion in value by 2025.

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