SCO countries' energy ministers approve draft strategy for energy co-op enhancing by 2030

Kazakhstan Materials 21 June 2024 12:39 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, June 21. Energy ministers from Shanghai Cooperation Organization (SCO) member states reviewed and approved the "Development strategy for energy cooperation among SCO member states until 2030" during the fourth Meeting of Energy Ministers of SCO Member States in Astana, Trend reports via the Kazakh Energy Ministry.

According to the ministry, the strategy was proposed for development following the initiative of Kazakhstan's President Kassym-Jomart Tokayev during the SCO Heads of State Council meeting on September 15–16, 2022, in Samarkand.

The document outlines key areas of cooperation among SCO member states in the energy sector up to 2030, including:

- prospects for developing the transit potential of energy resources and diversifying export routes;

- establishment of a new energy system with a balanced development priority;

- modernization of traditional energy sources and systemic improvement of the industry;

- development of innovative technologies and science in the use of renewable energy sources, including hydrogen energy;

- exploration of new solutions in energy conservation and efficiency improvement.

"In the approved strategy, we have reached a consensus on the need for a balanced approach, developing both traditional and renewable energy in accordance with the national conditions of SCO countries," Kazakhstan's Minister of Energy Almasadam Satkaliev said.

Additionally, the SCO energy ministers discussed strategic approaches to energy cooperation, promoting new approaches, and developing specific decisions aimed at ensuring sustainability and development of the energy sector among SCO states, observer states, and dialogue partners of the SCO.

The ministers exchanged views on the current state and prospects of the global and regional energy agenda and discussed the development of the energy industry, including opportunities for attracting investments and financing for projects and programs in this area.

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