IEA focuses on energy-hungry Brics

2013-11-21 10:39
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Paris - The International Energy Agency and six major emerging countries said on Wednesday they were exploring closer co-operation to boost market transparency and energy security.

Brazil, China, India, Russia and South Africa - often called the Brics emerging market countries, plus Indonesia - agreed to look at forging deeper co-operation with the IEA, which represents top advanced oil-consuming nations.

"These represent our key partners because of their important role in the global energy economy," said IEA chief Maria van der Hoeven.

The six countries represent almost 40% of global energy consumption, she said, and together with the 28 IEA members they would represent 90% of the total.

"The changing energy economy requires extending our strength beyond our membership," she added.

The IEA, the energy wing of the Organisation for Economic Co-operation and Development (OECD), advises on and analyses energy policy and is an important independent source of data.

Van der Hoeven said tightening co-operation with the emerging market giants was important as non-OECD members account for nine-tenths of growth in demand, and already account for 60% of primary demand.

They will look at creating new associated status and focus on improving information exchange, energy security and efficiency, as well as the development of renewable energy.

Read more on:    oecd  |  brics  |  iea  |  energy  |  climate change
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