Five-country energy ministers meeting opens in Beijing

An energy ministerial meeting of China, India, Japan, the Republic of Korea and the United States opened in Beijing Saturday morning, aimed at boosting energy efficiency and security.

"This meeting aims at safeguarding the stable and sustainable development of the global energy industry and building a new concept of energy security featuring mutual benefit and diversified development," Minister of the National Development and Reform Commission (NDRC) Ma Kai told the opening session.

The meeting also involved Indian Minister of Petroleum and Natural Gas Murli Deora, Japanese Economy, Trade and Industry Minister Amari Akira, ROK Minister of Commerce, Industry and Energy Chung Sye Kyun and U.S. Secretary of Energy Samuel Bodman.

The ministers had extensive and in-depth discussions on energy security, strategic oil reserve, energy mix and alternatives, energy efficiency, major challenges and priorities in international energy cooperation, according to a statement released by the NDRC.

Proposed by China, the first-ever meeting of energy ministers from the world's leading oil consuming nations came at a time when world oil prices keep fluctuating and energy demand continues to grow.

Ma said this meeting will send a sensible and positive message to the world. "The five major energy-consuming nations will step up dialogue, boost energy efficiency, jointly develop technology and protect the environment."

The five countries represent 45.2 percent of the world oil consumption, official statistics show.

Ma stressed that the five countries have shared interests and are confronted with common problems.

He made a six-point proposal on boosting energy cooperation among the five countries. The proposal calls for cooperation in oil conservation, development of oil alternatives, research of key technologies and increasing of energy supply.

Chinese Premier Wen Jiabao met with the ministers before the meeting.

A joint statement is expected to come out of the one-day meeting.

Source: Xinhua