Forward Look: Energy Cooperation Among SCO Member States Boasts Numerous Highlights

China News Service, Beijing, June 3 – After weathering 17 years of challenges and changes, the Shanghai Cooperation Organization has evolved from its initial focus on regional security, peace, and stability into a vibrant, multi-faceted regional cooperative body today, fostering close collaboration across political, economic, and cultural spheres. Notably, cooperation among SCO member states in the energy sector has emerged as a standout highlight. Regional energy cooperation is growing ever closer. In recent years, international energy cooperation has been marked by a new trend: production centers are shifting westward, while consumption hubs are expanding eastward. As a result, oil and gas production in Russia and Central Asia has risen to become increasingly pivotal, while China and India continue to see their energy consumption steadily climb. These shifts are reshaping the global landscape of energy production and consumption.

Release date:

2018-06-05

　　China News Service, Beijing, June 3 – After 17 years of challenges and growth, the Shanghai Cooperation Organization has evolved from its initial focus on regional security, peace, and stability into a vibrant regional multilateral cooperation framework today, fostering close collaboration across political, economic, and cultural spheres. Notably, cooperation among SCO member states in the energy sector has particularly stood out as a shining example of their expanding partnership.

　　Regional energy cooperation grows closer.

　　In recent years, a new trend has emerged in international energy cooperation: production centers are shifting "westward," while consumption centers are expanding "eastward." As oil and gas production in Russia and Central Asia rises to become increasingly significant, and as energy consumption continues to grow rapidly in China and India, these shifts in the global energy production and consumption landscape are fostering even closer collaboration among the member states of the Shanghai Cooperation Organization.

　　Take the trade between China and Kazakhstan as an example—energy trade accounts for 30% of the bilateral trade volume. Meanwhile, the related industries have created more than 30,000 jobs in Kazakhstan. Additionally, India and Russia have recently held intensive consultations on energy cooperation and reached a consensus on the matter.

　　The SCO Energy Club, established in 2013, is an open, multilateral platform under the framework of the Shanghai Cooperation Organization dedicated to developing and expanding energy cooperation. The fourth meeting of the club's senior officials recently took place in Beijing, bringing together representatives from multiple SCO member states and observer countries to discuss issues related to energy collaboration.

　　Zhou Dadi, a researcher at the Energy Research Institute of China's National Development and Reform Commission, stated that SCO member states include both major energy-producing countries like Russia, as well as large energy-consuming nations such as China and India. "It is foreseeable that energy cooperation among SCO members will become even closer in the future," he added.

　　New energy cooperation put on the agenda

　　As the global energy consumption landscape enters an era of diversification, new energy sources are expected to stand alongside coal, oil, and gas as the "four pillars" of the energy system.

　　Zhou Dadi analyzed that many member and observer countries of the Shanghai Cooperation Organization have joined the Paris Agreement and have all set clear targets for transforming and upgrading their energy sectors. Energy greening and decarbonization have already been placed squarely on the agenda, and developing new energy sources to achieve green, low-carbon development has become an irresistible global trend.

　　Currently, some member states of the SCO have vast potential for development in energy-saving and environmental protection technologies. Meanwhile, China is the world's largest producer and installer of photovoltaic systems, the country with the largest installed capacity of wind power, the nation with the biggest nuclear power plants under construction, and the leader in global energy efficiency improvements.

　　Zhou Dadi stated that, as a global leader in clean energy, new energy will become the area with the greatest potential for energy cooperation among SCO member states. "China boasts exceptionally strong capabilities in new-energy equipment, creating ample room for collaboration with our member countries. Moreover, China is eager to support other members in this critical field."

　　Building a New Mechanism for Energy Cooperation

　　According to industry experts, the current international energy governance system tends to favor primarily developed economies, putting energy-exporting countries like Russia and Central Asia—and energy-importing nations such as China and India—at a disadvantage. Establishing a global platform or mechanism for energy cooperation under the framework of the Shanghai Cooperation Organization and the Belt and Road Initiative would help optimize the global energy governance system and foster regional economic development.

　　Data shows that China has so far invested over 170 billion U.S. dollars in power projects along the Belt and Road countries, and more than 90 billion U.S. dollars in sectors such as oil and gas. Meanwhile, China’s independently developed Generation III nuclear technology is actively seeking cooperation with member countries including Russia, Kazakhstan, and Pakistan.

　　Jing Chunmei, Deputy Director of the Information Department at the China Center for International Economic Exchanges, stated that one of the regional priorities of the Belt and Road Initiative's energy cooperation is to facilitate connectivity between China, Russia, Mongolia, Central Asia, West Asia, and North Africa. Central Asian countries are home to some of the world's most abundant oil and gas resources—and also serve as a vital source of energy for China. The Belt and Road Initiative can foster comprehensive, industry-wide energy cooperation among the countries along its route.

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