Saudi Accreditation Center to Enhance Quality, Protect Consumers

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
TT

Saudi Accreditation Center to Enhance Quality, Protect Consumers

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia is looking to raise quality standards through the Saudi Accreditation Center (SAC), which revealed its objectives, including consumer protection, maintaining public health and safety, upgrade the quality and adequacy of services and products, and increase confidence in them.

The Center’s regulation shall include the definition of approved conformity assessment bodies, which are accredited by the Center.

The conformity assessment entails verifying that the specific requirements of a product, process, system or assessment body have been met.

The Center enjoys legal personality, financial and administrative independence, and is organizationally linked to the Minister of Trade and Investment. Its headquarters are located in Riyadh and, as required, may establish branches or offices within Saudi Arabia.

The Center shall establish all that is necessary to achieve its goals in acquiring accreditation bodies inside and outside the Kingdom.

This shall be done in accordance with the requirements approved by the board and the mutual recognition of the accreditation certificates of the conformity assessment bodies issued by the accreditation bodies in other countries in accordance with international practices and requirements.

SAC shall join international and regional organizations and bodies related to its activities and sign memorandums of understanding and agreements with them, in accordance with the established procedures.

It will also provide training services and qualify the assessors in the field of conformity assessment, as well as prepare a database of the center's activities. It shall coordinate with the governmental bodies in within the field of its activities, in order to contribute to the provision of data for the conformity assessment bodies for their adoption.

It shall also include studies, research and statistics relating to its activities and their publication in accordance with the rules and procedures established by the Council. The Center will also organize seminars and conferences related to its activities and represent the country in international and regional organizations.

The regulations of SAC were published after the Saudi cabinet has approved granting the Saudi Accreditation Committee independence, rebranding it as the Saudi Accreditation Center.

According to the regulations, the center will have a board of directors headed by the Minister of Trade and Investment, with representatives from the Ministry, Organization for Standardization, Metrology and Quality Organization, Food and Drug Authority, Building Code National Committee, and Consumer Protection Association, as well as three representatives from the private sector.

The board will be appointed by the cabinet upon the proposal of the Council of Saudi Chambers. Their term of office shall be three years and may be renewed for one time.

Article 6 provides that the board shall hold at least four meetings per year and whenever necessary, according to the discretion of its President, or upon the request of at least one third of its members.



EUROPE GAS-Prices Continue to Decline

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
TT

EUROPE GAS-Prices Continue to Decline

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Dutch and British wholesale gas prices continued to declined on Tuesday morning on milder weather forecasts for next week, high wind speeds and stable supply.

The benchmark front-month contract at the Dutch TTF hub was down 0.61 euros at 46.65 euros per megawatt hour (MWh) at 0947 GMT, according to LSEG data.

The contract for March was down 0.52 euro at 46.63 euros/MWh.

In Britain, the front-month contract fell by 2.04 pence to 116.76 pence per therm.

In north-west Europe, although another cold snap is forecast from Friday over the weekend, the latest forecasts are showing milder temperatures than yesterday from Jan. 15, according to LSEG data, Reuters reported.

Wind speeds are expected to remain quite strong today, limiting gas demand.

However, in north-west Europe, gas-for-power demand is expected 36 million cubic metres (mcm) per day higher at 78 mcm/day on the day-ahead.

"Wind speeds are expected still high today, before dropping sharply tomorrow with the cold spell arriving," said LSEG gas analyst Saku Jussila.

In Britain, Peak wind generation is forecast at around 15.1 gigawatts (GW) today and 14.7 GW tomorrow, Elexon data showed.

Analysts at Engie EnergyScan said EU net storage withdrawals have slowed due to a more comfortable spot balance but the storage gap compared to last year remains high. On 5 January, EU gas stocks were 69.94% full on average, compared to 84.96% last year.

Looking further ahead, analysts at Jefferies expect a tight year for global gas markets due to project delays and higher-than-expected demand.

"European and Asian LNG spot gas prices in 2025 could surpass those of 2024, driven by Europe's increased gas injection needs and the loss of Russian exports outpacing the expected growth in global LNG supply," they said.

"Post 2025, the market is expected to loosen with an additional 175 million tonnes of new supply coming online between 2026 and 2030, primarily from the US and Qatar," they added.

In the European carbon market, the benchmark contract was down 0.91 euro at 73.45 euros a metric ton.