Russia, the world’s second largest oil exporter and the country with the largest natural gas reserves, will host the annual Energy Week International Forum in the coming days. A meeting of the energy ministers of the BRICS countries is also expected to take place within the framework of the event.
In a letter addressed to the participants and guests of the forum, Putin emphasized, according to a Reuters summary: “It is clear that in the new geopolitical realities, cooperation in the energy sector must serve to strengthen national economies, solve important social problems, and improve people’s quality of life.”
The role of Russian energy carriers and security of supply issues will also be discussed at Portfolio’s Energy Investment Forum conference on October 10, more details:
The Russian president highlighted the importance of cooperation between the BRICS countries in the field of energy transition. “It is of fundamental importance that we agree on the common principles of our countries in the just energy transition and outline how we can strengthen the role of the BRICS countries in the global energy dialogue,” he said.
Previously, delegates from Saudi Arabia also participated in the forum. Dmitry Peskov, Putin’s spokesman, promised that the Kremlin would provide information about the participants of the event “in due time”.
Founded in 2009, the BRICS bloc aims to provide its members with a platform to challenge the world order dominated by the United States and its Western allies. The alliance, made up of Brazil, Russia, India, China and South Africa, recently expanded to include countries such as Egypt, Iran and the United Arab Emirates. The enlarged BRICS holds 42% of global oil and gas reserves.
Saudi Arabia has not yet officially joined the BRICS group, but Russian Foreign Minister Sergei Lavrov said the other day that Russia has invited Saudi Crown Prince Mohammed bin Salman to next month’s BRICS summit in Kazan.
The cover image is an illustration. Cover image source: Getty Images
Source: www.portfolio.hu
