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Assistant US Secretary of State Daniel S. Sullivan stated at a business meeting on Tuesday: “If China can participate in the IEA emergency response system, it will make this system more solid.â€
China is currently the second largest oil consumer after the United States. China’s current demand for energy continues to grow to promote its rapid economic development. To this end, China has to go international to seek more sources of energy. China’s state-owned energy companies have increased their search for energy in Africa, Central Asia and other regions in recent years. This practice of China will undoubtedly have a potential impact on global energy prices.
The International Energy Agency currently has 27 member countries, including major oil consumers such as the United States and European countries. Sullivan stated that one of the main functions of the IEA is to coordinate the issuance of national oil reserves in order to help stabilize oil prices in the event of a crisis threatening to interrupt oil supply. He said that in response to the hurricane Katrina in 2005, the International Energy Agency took this approach.
Sullivan said: “This practice has calmed the oil market, and this approach has undoubtedly brought substantial benefits to the United States and other major oil-consuming countries such as China. I believe that for major economies such as China and India It is very important to be prepared to eventually join the IEA and become a full member."
The business conference was organized by the Institute for 21st Century Energy, a think-tank based in Washington DC established by the US Chamber of Commerce.
U.S. Assistant Secretary of State Daniel Sullivan, the U.S. special envoy of the International Energy Agency in Paris, said that the International Energy Agency has invited Beijing to participate in an exercise held next month. The exercise was made in response to possible emergencies. Urgent response drill. Sullivan expressed the hope that the Chinese government will accept this invitation.
Sullivan stated that "China's participation is beneficial to China and beneficial to the International Energy Agency. China may consider issuing a statement indicating that it wants to become a member of the International Energy Agency." For a long time, China has been It is relying on its own domestic oilfields to meet its own energy needs, but since the 1990s, China has become a net oil importer. China is also currently building strategic oil reserves to prevent possible disruption of foreign oil supplies. The United States has also taken a similar approach.
In December last year, Beijing and Washington reached consensus on building and managing oil reserves as part of a long-term strategic economic dialogue between the two countries.
Sullivan also stated that a prerequisite for joining the International Energy Agency is that the country must be a member of the Organization for Economic Cooperation and Development (OECD), and China is not currently a member of the organization. However, Sullivan stated that due to the importance of China on global energy issues, the United States does not believe that this mandatory condition will be imposed on China.
The IEA member countries also include Japan, Australia and South Korea.
U.S. calls on China to join the International Energy Agency to help stabilize the oil market
According to a report by the US Financial Cable News Channel (CNBC) on May 20, a senior U.S. official on Tuesday (May 20) called on China to join the International Energy Agency to help stabilize the current oil market.