Draft strategy of SCO member states' energy cooperation development approved

Draft strategy of SCO member states' energy cooperation development approved
Photo credit: Soltan Zhexenbekov/Kazinform

The draft 2030 Strategy of Energy Cooperation Development of the Shanghai Cooperation Organization member states has been approved. The document was initiated by President Kassym-Jomart Tokayev, Minister of Energy of Kazakhstan Almasadam Satkaliyev said it at the 4th session of the SCO ministers of energy in Astana, Kazinform News Agency reports.

In July 2024, Kazakhstan completes its chairmanship in the SCO and will hand over  it to the People’s Republic of China. The Kazakh Minister expressed confidence in successful chairmanship aimed at the achievement of the goals set for the benefit of all SCO states.

Almasadam Satkaliyev announced the preliminary results of Kazakhstan’s SCO chairmanship.

“As part of Kazakhstan’s presidency, we have successfully held the SCO Energy Forum in October 2023 with the participation of 12 member states, observer countries and dialogue partners and the SCO Secretariat. I am confident that this comprehensive document will create a foundation for further implementation of certain projects aimed at strengthening the regional energy security of the SCO member countries,” said Satkaliyev.

He noted that the Shanghai Cooperation Organization proved to be an authoritative multilateral association with unique advantages for the cooperation, namely transit-transport potential, connectivity between the member states and complementarity of economies.

“Our countries account for about a third of the global GDP – 60% of the Eurasian territory, 42% of the population of the planet and more than 15% of the global trade. Energy sector is an important aspect of cooperation of the SCO member states, uniting major producers, transiters and consumers of energy resources. Building systemwide interaction and strengthening the energy cooperation gains special importance today. We see that today, more than ever, it is necessary to coordinate the work of key participants of the global market, to raise the level of regional energy security, taking into account the rapid development of low-carbon energy in the context of global climate change issues,” Almasadam Satkaliyev noted.

The draft 2030 strategy of the SCO member states' energy cooperation development determines the key areas of cooperation of the SCO states in energy sector including:

- Prospects for the development of transit potential of energy resources and possibility of diversifying export routes;

- Building a new energy system with a balance of priorities of the sector’s development;

- Modernization of the traditional energy sources, systemwide development of the sector;

- Development of innovative technologies and science in RES, development of hydrogen energy;

- Search for new solutions in energy saving and raising energy efficiency;

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