chapter  11
15 Pages

The BRICS countries and international energy cooperation

WithLiu Wenge, Wang Lei

The energy cooperation between Brazil, Russia, India, China and South Africa (BRICS) countries will be a long-term game between the five countries. Unlike other BRICS countries, India simply has its increasingly growing energy consumption market and rich experience in international energy cooperation. The BRICS countries should take advantage of extensive economic cooperation in various fields in recent years to jointly establish a BRICS energy strategic reserve system based on oil and natural gas. The energy cooperation among the BRICS countries, particularly the cooperation field, could be fully leveraged to give full play to the strengths of the five members for advantageous complementarity, putting together their different energy advantages and jointly promoting the smooth start and quick finish of major energy cooperation projects. The establishment of a substantial energy cooperation system can promote the formation of entity cooperation system among the BRICS countries.