BRICS energy diplomacy

BRICS is an alliance of five countries spanning four continents, member states differ in terms of their social, political and economic situations.

According to Leonova et el (2007), each BRICS state has its own growth trajectory and resources. As a result, energy consumption as an economic bloc varies according to each country’s individual needs.

In 2009, when the bloc was known as BRIC (Brazil, Russia,India, China) – before the inclusion of South Africa in 2010 – it counted for a fifth of the world’s economy and 43% of the world’s population (Yao et el 2009). After South Africa’s inclusion, the group collectively consumed more energy than the G7 countries.

In respect two countries in BRICS – China and India – are set to change the global energy landscape because of their consumption patterns.

China remains the largest producer and consumer of coal and looks poised to overtake the United States as the largest oil consumer by 2030. It also has a larger gas market share than the European Union. Unlike China, accounts for no more than 6%of global energy users. However, India is entering a sustained period of rapid growth in energy consumption due to increased demand for coal in power generation and industry. This makes India the largest source of growth in global coal use. It is also showing an increased demand for oil.

 

 

Find full article: BRICS Journal Issue 4

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