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| Achievements and Challenges Faced by the Belt and Road Energy Cooperation |
| Hou Mingyang, Zhang Yaxiong |
| Sinopec Petroleum Exploration and Production Research Institute |
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Abstract Since General Secretary Xi Jinping proposed the Belt and Road Initiative in 2013, the Belt and Road energy cooperation has achieved fruitful results in the following five aspects: policy coordination, infrastructure connectivity,unimpeded trade, financial integration, and people-to-people ties. Looking back on the development over the past decade, the Belt and Road energy cooperation has witnessed mutual benefits and win-win results, openness and shared benefits, innovation and progress, and green and low-carbon
development. In the current context of energy transition and escalating energy geopolitical risks, high-quality energy cooperation is beneficial not only for ensuring the energy security of countries along the Belt and Road but also for promoting their green development and improving the well-being of their people. Based on the above understanding, the author has analyzed the following four major challenges faced by high-quality Belt and Road energy cooperation in the future: international politics, geopolitical risks, energy markets, and technological innovation, and put forward relevant suggestions from such five aspects as balance of development and security, incremental market and current market, traditional energy and new energy, technological progress and industrial upgrading, and China’s interests and the welfare of the people in resource-rich countries.
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Published: 25 December 2024
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