Energy cooperation opens up new markets along the Belt and Road

Seetao 2023-05-26 10:50
  • Energy cooperation along the Belt and Road has driven related industries and economic development in countries along the route
  • At present, the construction of the Belt and Road Initiative has created more than 10 million jobs and increased the people's livelihood and well-being of the co-constructed countries.
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Over the past 10 years, China and countries along the Belt and Road have achieved a number of solid achievements in energy cooperation.

Policy communication continued to deepen. Over the past 10 years, China has successively established intergovernmental energy cooperation mechanisms with more than 90 countries, regions and international organizations. Advocated the establishment of the Belt and Road Energy Partnership, with 33 member countries. Five regional energy cooperation platforms including China-Arab League, China-African Union, China-ASEAN, China-Central and Eastern Europe, and APEC Sustainable Energy Center have been established.

Yanbu, Saudi Arabia, the natural gas facility of the Yanbu Refinery

Over the past 10 years, a large number of energy infrastructures have been built. China-Central Asia Natural Gas Pipeline ABC Line, China-Myanmar Crude Oil and Natural Gas Pipeline and other cross-border oil and gas pipelines have been completed and put into production. The country launches power interconnection projects. At the same time, Chinese companies are also actively going out, investing in the construction of the Belo Monte ±800 kV UHV DC transmission project in Brazil and the Crete interconnection project in Greece in countries along the Belt and Road.

Over the past 10 years, trade cooperation in the clean energy industry has been actively promoted. As the world's largest clean energy market and equipment manufacturing country, China has contributed more than 70% of the world's photovoltaic production capacity and 60% of wind power production capacity, which has effectively promoted the decline in the cost of global renewable energy. In the past 10 years, China has carried out green energy project cooperation with more than 100 countries and regions, and the investment in green and low-carbon energy in countries along the Belt and Road has surpassed traditional energy.

Over the past 10 years, financial integration has continued to expand, improving the well-being of the people in the joint construction of the country. Focusing on energy cooperation along the Belt and Road, the Silk Road Fund has actively deployed a series of oil and gas, electric power, new energy and other project investments in co-construction countries. Up to now, there are a total of 25 energy investment projects, with a committed investment amount of about 6.8 billion US dollars.Editor/Ma Xue


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