BRICS energy ministers emphasize on diversified energy systems, supply chains; commit towards energy security
New Delhi: BRICS energy ministers on Thursday reaffirmed that energy security remains central to the grouping's cooperation, stressing the need for diversified, resilient and transparent
New Delhi: BRICS energy ministers on Thursday reaffirmed that energy security remains central to the grouping's cooperation, stressing the need for diversified, resilient and transparent energy systems and supply chains. Meeting in Gurugram under India's chairship, the ministers adopted the 11th BRICS energy ministers' joint communiqué which said energy security remains a cornerstone of BRICS cooperation and emphasized the need for diversified, resilient and transparent energy systems and supply chains. Power minister Manohar Lal said energy pathways would differ across countries, adding that developing countries require adequate time, resources and policy space to pursue sustainable development while meeting the legitimate aspirations of their people. Quick answers to key questions • 5 QUESTIONS 1 What is the role of energy security in BRICS cooperation? ⌵ Energy security is a central facet of BRICS cooperation, emphasizing the need for diversified, resilient, and transparent energy systems and supply chains among its members.
2 Why is access to sustainable energy critical for developing countries? ⌵ Access to secure, reliable, affordable, and sustainable energy is fundamental for economic development, job creation, industrialization, and human dignity, especially in developing countries. 3 How are BRICS countries addressing the need for cleaner energy technologies? ⌵ BRICS countries are promoting cleaner and more efficient energy technologies, emphasizing research and cooperation in areas such as renewable energy, hydrogen, and energy efficiency. 4 What strategies are in place to enhance energy cooperation between India and Iran? ⌵ India and Iran are discussing ways to strengthen energy cooperation and bilateral trade, focusing on expanding engagement in the oil and gas sector and leveraging their strategic infrastructure. 5 Should countries prioritize diverse energy mixes in their energy policies? ⌵ Yes, countries should prioritize balanced and diversified energy mixes to ensure stability, sustainability, and resilience in their energy supply, accommodating various economic and environmental needs.
"The ministers highlighted that access to secure, reliable, affordable, and sustainable energy is fundamental to economic development, job creation, industrialization, and human dignity," the power ministry said in a statement. The ministers also underscored the importance of balanced and diversified energy mixes, promotion of cleaner and more efficient energy technologies, and cooperation in areas such as new technologies in fossil fuels, renewable energy, biofuels, hydrogen, energy storage, critical minerals, carbon capture technologies, digitalization and energy efficiency while reaffirming the importance of affordable financing. Lal said India has emerged as the world’s third-largest producer and consumer of electricity, with installed power genration capacity nearing 540 GW and non-fossil sources accounting for more than half of the installed capacity. The BRICS digital centre of excellence for smart grids and energy storage was launched under the BRICS Energy Research Cooperation Platform (ERCP).
The BriefWire