Sunday, October 4, 2015

'Belt & Road' initiative aims to connect energy network  10-04-2015

What's the energy picture along the new Silk Road? How can countries cooperate in the energy industry? Let's look at some facts and figures.
As the "One Belt, One Road" Initiative picks up steam, improvements can be expected in transportation and logistics, infrastructure construction, and financing in countries along the route. These should create favorite conditions for exploitation of traditional energy resources such as oil and gas, alongside the development of renewable energy.
Let's first take a look at the current energy landscape worldwide.
According to the BP Statistical Review of World Energy for 2014, global primary energy consumption increased by just 0.9 percent last year. But this still represented record highs for every fuel type except nuclear power…and production increased for all fuel types except coal.
Among all the world economies, the Review found that emerging economies accounted for all of the net growth in energy consumption. That's been the case on average over the past decade.
In order to withstand volatility of energy prices, a Chinese government report says countries along the "One Belt, One Road" route in Eurasia should be more aware of the importance of establishing oil and gas pipeline networks connecting regional economic corridors.


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