Opportunities, Challenges and Strategies for BRICS Energy Cooperation under the New Situation

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Abstract The global energy market is volatile at present. It is of great significance for the BRICS countries, representatives of emerging economies and energy powers in the world, to deepen practical cooperation in energy. With a large energy volume and obvious complementary advantages in energy resources, industries and technologies, the BRICS countries have a good basis and prospects for cooperation. With the continuous deepening of the BRICS cooperation mechanism, the mechanism for BRICS cooperation in energy has further improved and the path has become clear. In this paper, the history of BRICS energy cooperation mechanism, as well as the status quo and characteristics of BRICS energy cooperation are presented. From both internal and external dimensions, an in-depth analysis of the opportunities and challenges in energy cooperation among BRICS countries under the complex international situation is made, and strategic recommendations in four aspects are provided: to strengthen diversified cooperation and strategic alignment, to intensify information sharing and policy coordination, to improve financial security and settlement systems, and to promote the construction of “BRICS+” and cooperation mechanisms.

Published: 03 November 2022

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