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Russian Energy Minister Encourages APEC Cooperation with SCO - EastRussia | Far East

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RF Minister of Energy urges APEC to cooperate with SCO

Russian Minister of Energy Alexander Novak called on APEC to develop cooperation with the Shanghai Cooperation Organization (SCO). According to the press service of the Ministry of Energy, he said this in his report at the 11 meeting of the APEC energy ministers in Beijing.

Alexander Novak noted that he sees the main task of APEC in improving the system of international control and cooperation in the functioning of the APR energy market. “APEC’s constructive energy cooperation could also be developed with the Shanghai Cooperation Organization (SCO), through the recently created SCO Energy Club,” added the Energy Minister.

In his speech, the Minister emphasized the growing role of the Asia-Pacific region in the global energy industry. “The outpacing growth in energy consumption in the Asia-Pacific Region is stimulated by the growing standard of living of the population and the rapid development of the economy,” said Alexander Novak. - According to leading experts, this trend will continue in the coming decades. Given the stagnation in Europe and the saturation of demand in the United States, we can confidently say that the role of the APR in the global energy sector will only increase. ”

The head of the Ministry of Energy also said that in the context of the introduction of artificial political restrictions in the field of energy by the Western countries, the less politicized energy markets of the Asia-Pacific Region seem more attractive to Russia.

Alexander Novak cited LNG supplies, pipeline supplies of hydrocarbons through the development of transport infrastructure, participation of Russian and Asian energy companies in joint mining projects, and expansion of coal supplies as the main areas of work for Russian companies in the Asian market. In addition, the idea of ​​creating an “Asian Super Ring” is being worked out, which presupposes the unification of the energy systems of Russia, China, Mongolia, South Korea and Japan and allows organizing large-scale export of Russian electricity to the countries participating in the project.