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Since the establishment of the Shanghai Cooperation Organization for 6 years, it has actively explored multilateral economic and trade cooperation models. Its member states and observer countries either possess rich oil and gas resources or are big energy consumers. Energy cooperation has always been one of the important topics. In November 2005, the first Eurasian Economic Forum was successfully held in Xi'an. It conducted in-depth and fruitful exchanges on energy cooperation issues of concern in Europe and Asia, and put forward many constructive initiatives. In December 2005, Uzbekistan proposed the formation of an energy alliance between the countries of Europe and Asia. In early 2006, Russian President Putin formally proposed the concept of an energy club. Unlike the Organization of Petroleum Exporting Countries (OPEC), the energy club is a platform for establishing energy cooperation dialogues, coordination, and exchanges between countries in Europe and Asia. Some media have called it "Oriental OPEC."
“Now the global oil price exceeds US$98 a barrel. Many countries are oil exporters. But whose oil is sold at 98 dollars?†said Han Xiaoping, chief information officer of China Energy Network. Oil-producing countries, exporting countries, and oil-consuming countries, but can not control the global oil prices, mainly due to the lack of a good information communication mechanism between regions. Han Xiaoping believes that the establishment of an energy club may still take a long process, but it should immediately begin. First of all, under the framework of the Shanghai Cooperation Organization, private organizations establish an energy information communication platform as the first step to establish an energy club. He suggested that the form can be used for the Internet to timely publish the dynamics of various countries' energy policies, environments, and markets, and exchange information with each other to reduce trade risks.
The consultants of the Russian International Industrial Bank, Lemeja, and the president of the Greater China Region of Korea's SK Group, Li Shengquan, have invariably pointed out that energy cooperation requires stable financial support. They believe that countries in Europe and Asia have expanded their energy cooperation, but mutual investment is still far from enough. The interests of financial institutions in various countries should be better coordinated at the national level, common industry standards should be adopted, and financial clubs or UnionPay bodies should be established to lay a sound foundation for future cooperation between banks and financing of energy projects. A stable fund can also be established to ensure the normal supply of energy, and oil prices will not fluctuate greatly.
In an interview with reporters, Chang Xuhong, an expert from the Shanghai Cooperation Organization Secretariat, disclosed that at present, an energy working group has been set up. The establishment of an energy club is being discussed and discussed, drafting related documents drafted, but so far no one has accepted it. In conclusion, it is estimated that at the ministerial meeting of the energy nations next year, phased results will be achieved.
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How far is the Energy Club from us?
Europe and Asia are rich in oil and gas resources and are the world's largest oil export and consumption regions. However, why is such a pivotal region unable to affect global oil prices? What kind of energy cooperation mechanism should be established between the Eurasian region? This became a hot spot for the 2007 Eurasian Economic Forum Energy Cooperation Conference held in Xi'an last week. The Energy Club became more and more specific in a heated debate.