Nazarbayev suggests an International Energy Organization coordinate extraction and distribution of all energy resources

When speaking at the St. Petersburg International Economic Forum June 18, President Nazarbayev suggested establishing an International Energy Organization to coordinate extraction and distribution of all energy resources throughout the world, as well as energy-related research. According to the President, the world is facing new challenges related to energy security. “Developed nations with a population of about 1 billion people consume nearly twice more energy resources than the rest of the world”, the President said. “The struggle for energy resources is set to intensify, causing tensions. The International Energy Agency is only defending interests of countries importing oil and gas. Besides, research related to alternative energy is not coordinated”, Mr. Nazarbayev believes. According to him, to ensure global energy security, the international community should work out a concerted approach to balanced use of energy.