Energy Cooperation Under the Belt and Road Initiative: Implications for Global Energy Governance

Abstract

Abstract This article discusses the implications of the Belt and Road Initiative (BRI) on energy cooperation between China and other Eurasian countries and their ramifications for global energy governance. As a development framework with strong geopolitical and geo-economical dimensions, the BRI aims to promote interconnectivity and cooperation in the areas of infrastructure, policy, trade, finance, and culture between Eurasian countries. The implementation of the BRI is expected to involve large-scale investment, infrastructural construction, and industrial integration in the energy sector. The need for investment protection and the management of transnational projects can further promote multilateral cooperation (and therefore multilateral institutions) between China and its Eurasian neighbours. This article demonstrates that, although the attitudes of the Chinese authorities towards global energy governance are complex, the BRI could change China’s energy cooperation in Eurasia into more of a regional and multilateral engagement strategy than is currently the case.