ASTANA – The SCO Energy Ministers approved the draft strategy for the development of energy cooperation until 2030, initiated by Kazakhstan, during a June 20-21 meeting in the Kazakh capital.
Photo credit: Energy Ministry
According to the Kazakh Energy Ministry, the document defines the key areas of cooperation between the SCO member states in the energy sector, including prospects for the development of the transit potential of energy resources and the possibility of diversifying export routes; formation of a new energy system with a balance of industry development priorities; modernization of traditional energy sources, systemic improvement of the industry; development of innovative technologies and science in the field of use of renewable energy sources, development of hydrogen energy; searching for new solutions in the field of energy saving and increasing energy efficiency.
Kazakh Energy Minister Almasadam Satkaliyev. Photo credit: Energy Ministry
“We have reached a consensus on the need for a balanced approach, the development of both traditional and renewable energy in accordance with the national conditions of the SCO countries,” noted Kazakh Energy Minister Almasadam Satkaliyev.
The meeting attendees also discussed strategic approaches to the advancement of energy cooperation, promoting the development of new approaches and developing concrete solutions aimed at ensuring the sustainability and development of the energy sector of the SCO member states, observer states and dialogue partner countries.
The ministers exchanged views on the current state and prospects for the development of the global and regional energy agenda, discussed the development of the energy industry, including the possibilities of attracting investment and financing for the implementation of projects and programs in this area.
Today, the SCO accounts for around a third of world gross domestic product (GDP), 60% of the territory of Eurasia, and 42% of the world’s population. The SCO unites the largest producers, transit countries and consumers of energy resources.
