The expansion of BRICS (Brazil, Russia, India, China, South Africa) will contribute to the development of cooperation in the gas market, allowed Ivan Timonin, senior adviser to Practicea, in an interview with RIA Novosti. He explained that countries can jointly develop their own technologies or produce equipment.
Argentina, Ethiopia, Iran, Egypt, United Arab Emirates and Saudi Arabia will join the BRICS if they officially accept the invitations in 2024. It is assumed that they can become full members of the alliance from 1 January.
“In the context of the impact on the gas market, the expansion of BRICS is not of interest for the strengthening of trade relations, but for the development of technological and investment cooperation,” said Timonin.
Especially Egypt and the UAE are major exporters of liquefied natural gas, as are Russia. Iran is also planning to enter this market. The expert summarized that in the new composition, BRICS can begin to develop its own technologies to liquefy the gas and manufacture the necessary equipment.
The BRICS summit was held in Johannesburg on 22-24 August. The forum was the group’s first face-to-face meeting in three years without Russian President Vladimir Putin. Attended remotely.http://www.gazeta.ru/business/news/2023/08/25/21145808.shtml
It was previously reported that the GDP of the BRICS countries will reach 37% of the world after the accession of the new countries.