CHINA’S ROLE IN THE FORMATION OF THE NEW GLOBAL ENERGY ORDER

Abstract

The article examines the transformation of the global energy order, which, according to the author, represents a shift from American hegemony to asymmetric multipolarity with a key role for China. The shifting balance of power is leading to an increased geopolitical uncertainty and a transformation of the global energy order. The author analyzes China’s position in this process. While remaining the world’s largest importer of hydrocarbons, China is simultaneously becoming one of the technological leaders in clean energy. It is shown that China’s energy transition strategy is closely linked to the objectives of domestic economic modernization and ensuring the country’s energy security amid geopolitical instability.
The article examines in detail China’s foreign policy strategy of forming an «energy superpower» (能源强国), which includes consolidating technological leadership in the energy sector, strengthening influence over global energy policy, promoting the yuan for the dedollarization of global energy settlements, and creating alternative financial institutions. Its implementation relies on multilateral mechanisms (SCO, BRICS, ASEAN), while the main material platform is the Belt and Road Initiative with its new model of «third-party market cooperation» (第三方市场合作模式). Special attention is paid to the influence of two factors on China’s external energy strategy: the dominant role of coal in the national energy mix and geopolitical instability in energy-supplying countries.
The authors concludes that the shifting global balance of power makes the transformation of the energy order inevitable, and China, as the world’s largest energy consumer, plays a crucial role in the formation of a new global energy order.