The fourth meeting of the Ministers of Energy of the Shanghai Cooperation Organization (SCO) member states took place in the capital of Kazakhstan, under the chairmanship of Kazakhstan on June 20-21, 2024. During this gathering, the heads of the energy departments of the SCO countries reviewed and approved the strategy for the development of energy cooperation of the member states of the Shanghai Cooperation Organization until 2030.
This comprehensive strategy, initiated by the President of Kazakhstan, Kassym-Jomart Tokayev, during the Council of Heads of SCO Member States meeting on September 15-16, 2022, in Samarkand, outlines the key areas of cooperation in the energy sector for the SCO member states up to 2030. The document emphasizes several critical aspects:
- Transit Potential and Export Diversification: Enhancing the transit potential of energy resources and diversifying export routes to ensure energy security and economic resilience.
- Balanced Energy Development: Forming a new energy system that balances the priorities of traditional and renewable energy sources to meet the industry’s evolving needs.
- Modernization and Improvement: Systemic modernization of traditional energy sources and continuous improvement of the industry to enhance efficiency and sustainability.
- Innovation and Renewable Energy: Promoting innovative technologies, developing renewable energy sources, and advancing hydrogen energy as a sustainable alternative.
- Energy Efficiency and Saving: Seeking new solutions to enhance energy saving and increase overall energy efficiency.
Minister Satkaliev highlighted the importance of the consensus achieved in the strategy:
“In the approved Strategy, we have reached a consensus on the need for a balanced approach, the development of both traditional and renewable energy in accordance with the national conditions of the SCO countries.”
The energy ministers also discussed strategic approaches to enhancing energy cooperation, fostering new methods, and formulating specific solutions aimed at ensuring the sustainability and growth of the energy sector among SCO member states, observer states, and dialogue partner countries.
Additionally, the ministers exchanged views on the current and future state of the global and regional energy agenda, focusing on the development of the energy industry. They explored possibilities for attracting investments and securing financing to implement various projects and programs in this sector.
The Shanghai Cooperation Organization is a regional organization that facilitates dialogue and cooperation among its member countries. Currently, the SCO accounts for about a third of the world's GDP, covers 60% of Eurasia's territory, and encompasses 42% of the global population.
Energy cooperation is a cornerstone of the SCO’s initiatives, fostering development across various sectors, particularly the economic sphere. The SCO unites major producers, transit countries, and consumers of energy resources, making it a pivotal platform for energy collaboration.
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