MOSCOW, September 26. /TASS/. Russian Energy Minister Sergey Tsivilev has noted the importance of creating an integrated energy strategy of BRICS member states, which account for over 40% of global oil production.

"I consider the creation of an integrated energy strategy of BRICS very important," he said at the Russian Energy Week (REW).

BRICS nations produce and consume more than 40% of oil and gas globally, the minister said, adding that BRICS also consumes over 40% of petroleum products in the world.

The share of the integration on the market of production and consumption of coal totals over three quarters.

Moreover, BRICS countries will ensure half of global production and consumption of energy by 2050.

The seventh international forum Russian Energy Week (REW) is organized by the Roscongress Foundation with the support of the Russian Government, the Russian Energy Ministry and the Moscow Government. TASS is the forum’s information partner.