https://sputnikglobe.com/20240926/russian-ministry-of-energy-says-necessary-to-create-common-energy-strategy-for-brics-1120298813.html

Russia Highlights Need to Create Common Energy Strategy for BRICS

Russia Highlights Need to Create Common Energy Strategy for BRICS

Sputnik International

There is a need to create a common energy strategy for BRICS, Russian Energy Minister Sergei Tsivilev said on Thursday.

2024-09-26T12:33+0000

2024-09-26T12:33+0000

2024-09-26T14:04+0000

economy

sergei tsivilev

russia

brics

ministry of energy

renewable energy

coal

coal industry

oil market

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"In the long term, dear colleagues, I consider it very important to create a common energy strategy for BRICS," Tsivilev said at a meeting with BRICS energy ministers on the sidelines of the Russian Energy Week international forum.The minister emphasized that the BRICS countries "play a crucial role in the global energy agenda" and hold leading positions in both conventional and renewable energy. According to Tsivilev, the BRICS countries dominate the global coal market - with a share of about three quarters of global production and consumption. The share of natural gas production and consumption is about 40% of the world total. With the expansion of the association this year, the role of the BRICS in the global oil market has also increased significantly: the BRICS countries account for more than 40% of global oil production and about 40% of global consumption of oil products, he concluded.

russia

2024

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