Moscow Hosts BRICS Energy Ministers’ Meeting

Moscow hosted the 9th BRICS Energy Ministers’ Meeting on 26 September 2024 during the annual Russian Energy Week International Forum.

Opening the event, Russian Minister of Energy Sergey Tsivilev noted that BRICS countries play a key role in the global energy agenda and occupy leading positions in both traditional energy and renewable energy sources. In particular, he said BRICS countries produce and consume three-fourths of the world’s coal and around 40% of its natural gas. In addition, with the association’s expansion in 2024 BRICS is playing an even greater role on the global oil market, as it accounts for more than 40% of global oil production, as well as about 40% of global consumption of petroleum products.

“Given the significant role that BRICS countries play on the global energy market, it’s obvious that we are interested in the stable development of global energy, the free movement of capital and technology, and global energy security,” Tsivilev said.

Tsivilev also spoke about ways to strengthen the mutual connection between the energy and climate agendas. He said climate goals and tasks should not hinder the economic development of countries.

“Each country should focus solely on their own national priorities when choosing the path of the energy transition,” he said.

Tsivilev said that BRICS should bolster its influence on the world stage and continue to coordinate common efforts to promote fair, equal, and depoliticized energy cooperation. He noted the importance of developing a unified BRICS energy strategy in the future.

“The world is choosing the path along which the energy transition will proceed, so it’s crucial to develop a unified position. Today, all the BRICS members approved the final communiqué, which sets out the main principles of this energy transition. BRICS countries are the largest producers and consumers of energy in the world. How the energy transition occurs will largely depend on how we see it developing. In addition, I would like to note that today the BRICS energy ministers also approved our mission: the energy of life now and in the future. Energy affects each person around the world, and millions of people are employed in the energy sector. And everyone who works in the energy sector must clearly understand our goal,” Sergey Tsivilev said.

In conclusion, the minister noted that all BRICS member countries are united by a common approach based on the principles of justice. He said the key goal of the group’s energy cooperation is to use energy resources for the benefit of humanity.

“It’s difficult to overstate the strategic importance of cooperation between BRICS countries in the energy sector. Given the changing world, when global challenges require coordinated and responsible actions, holding a dialogue and intensifying cooperation on the energy agenda are becoming key factors for success. The agreements we have reached are an important step in ensuring sovereignty and energy security. They create the foundation for cooperation in solving global problems related to maintaining the global energy balance,” Adviser to the Russian President and Executive Secretary of the Organizing Committee of Russia’s BRICS Chairship Anton Kobyakov said.

The Roscongress Foundation manages the events of Russia’s BRICS chairship.