Source:CNTV Published: 2015-10-4
One of the top priorities of the China-proposed “One Belt, One Road Initiative” is to create a more efficient and better integrated energy network around the globe.
The rising level of energy consumption worldwide requires more reliable and efficient infrastructure and markets. According to the International Energy Agency, investment in the oil, gas and power sectors could reach 10 trillion US dollars over the next two decades in Asia alone.
Through the "One Belt, One Road" initiative, transportation, financing and infrastructure used for the energy business will be improved in a bid to promote sustainable energy cooperation between countries involved in the initiative.
Cooperation will range from traditional resources including coal, oil and precious metals to clean energy such as hydropower, nuclear power, and solar energy.
Meanwhile, energy cooperation under the initiative will be highly complementary.
For example, Central Asia has abundant clean energy, but lacks the necessary infrastructure, hindering the exports of resources, energy and economic development. Meanwhile, China has the financial ability and experience for helping other countries build infrastructure, along with importing the clean energy it needs for further development.
Experts believe that cooperation like this would create affordable access to more energy resources and promote sustainable economic and social development for nations participating in the initiative.
Key Words: Belt and Road; energy
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