MOSCOW, February 26. /TASS/. BRICS nations can seriously influence the formation of the global energy agenda, Russian Deputy Energy Minister Sergey Mochalnikov said.

"BRICS countries as a whole currently account for 45% of global population, 37% of global GDP in terms of purchasing power parity. Our countries have leading positions both in the area of traditional energy resources and in the area of renewable energy sources. In this respect it is obvious that BRICS countries can substantially influence the formation of the global energy agenda," he said at a meeting of the committee of BRICS senior officials on energy on the sidelines of the RUSSIA EXPO.

Only following the principles of balanced development of traditional energy and new sources of energy it is possible to ensure a fair energy shift without creating a threat to energy security. That said, the movement to sustainable global economy should be carried out with obligatory participation and consideration of the interests of all countries, including developing economies of the global South and East, deputy minister stated. "Only under such conditions the formation of democratic, fair, multipolar world order is possible," Mochalnikov stressed.

BRICS nations should work together to fortify comprehensive cooperation, promote their vision of energy of the future aimed at the formation of the equal, balanced and sustainable pattern of the world energy development considering national conditions and peculiarities, the official noted.

Russia has defined three key areas within its chairmanship, he said, adding that they include the development of national energy systems of BRICS countries through deepening of cooperation considering new members joining, the deepening of cooperation in the area of technologies and innovations, the improvement of conditions for attracting investments, and increasing the role of BRICS in the global dialogue on pressing energy issues.

Russia has been chairing BRICS since January 1, 2024, with five members, including Egypt, Iran, Saudi Arabia, the UAE and Ethiopia having joined the organization since the beginning of the year.