An analysis of the Sino-Venezuelan energy cooperation model

Abstract

Subject. This article discusses the model of relations between resource-shortage countries and countries rich in natural resources, considering China and Venezuela as a case study. Objectives. The article aims to identify the key drivers of the model of energy cooperation between countries with different energy experience in the geopolitical context and initiatives to ensure energy security. Methods. For the study, we used the analytical and comparative research methods. Results. The article finds that the governments of China and Venezuela are promoting energy cooperation through financial credit and technical cooperation, and a special way of paying for oil is essential in the changing geopolitics. Conclusions. The article suggests that the use of models such as the internationalization of the yuan, financial credit and technical cooperation can ensure energy security in energy cooperation between China and Venezuela, and reduce the risks of credit default and political sanctions in cooperation projects.