The prospects of China-Arab oil and gas cooperation are promising-Exploring new models of global energy governance

The prospects of China-Arab oil and gas cooperation are promising

-Exploring new models of global energy governance

03 Exploring new models of global energy governance

The global energy market, especially the international oil market, often experiences significant fluctuations, and the world oil and gas industry also often experiences alternating prosperity and depression. The ongoing Ukraine crisis haoil and gass brought about the “first truly global energy crisis”.

Maintaining the stability of the international oil and energy market is not only a common goal of energy importers like China, but also should be a common goal of Arab oil and gas producers and exporters. To this end, it is suggested that Arab oil and gas producing and exporting countries should conduct inter-governmental, inter-industry and academic dialogues and exchanges with China on maintaining the stability of the international oil and energy market, exchange information in all aspects, trade oil and gas as the preferred project and key content of cooperation, explore various possible strategies and methods, coordinate the policies of relevant countries, and work together to maintain the stability of the international oil and energy market.

At present, renewable energy and new energy are developing rapidly in the world. China is the world’s largest producer and exporter of renewable energy such as wind and solar, as well as electric vehicles and batteries. Arab countries have abundant renewable energy resources and a broad electric vehicle market. Therefore, China and Arab countries should strengthen cooperation in renewable energy and new energy in terms of trade, technology, production and talent, and actively explore how to maintain the stability of the international oil and gas market while promoting the better development of renewable energy and electric vehicles, and make the energy transition that concerns the future of all mankind proceed smoothly and orderly.

The current world is undergoing a major change that has not been seen in a century. The superposition of the rapid development of renewable energy and new energy, the international oil and energy market will present more new phenomena and new problems, which urgently requires China and Arab countries to join hands and actively explore new models of global energy governance.