Kazakstan has proposed creating an energy cartel of Asian energy producing states, including Mongolia. 

During last week’s meeting of the Shanghai Cooperation Organization, SCO, in Almaty, Kazakhstan proposed the creation of an Asian Energy Strategy to limit competition between producing countries. 

The SCO countries currently control 20 percent of the world’s oil and 33 percent of its natural gas.  

The proposed cartel would include those SCO countries that produce energy and those which allow the natural resources to travel through their territory to be delivered to customers. 

However, observers believe competition to sell to Russia and China would make controlling prices difficult, if not impossible. 

Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan make up the SCO. 

Mongolia, along with Pakistan, Iran, and India, holds observer status within the organization.

Be first to comment this article

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.3.0