Iran tables draft for SCO energy consortium at Moscow meeting

Iran has proposed the establishment of an energy consortium among members of the Shanghai Cooperation Organization (SCO) to enhance coordination of supply and demand between member states.

Iranian Deputy Energy Minister Mostafa Rajabi said on Saturday that the country had submitted a draft proposal containing the statute of the SCO energy consortium to members during a meeting of SCO energy ministers in Moscow.

Rajabi said Iran hopes the draft proposal would be reviewed and adopted at the next summit of SCO leaders.

He added that Iran has also proposed the synchronization of SCO members' electricity grids as a solution to power shortages in member countries.

The official said the idea was first raised during an SCO meeting in 2024, adding that members have welcomed a draft document proposed by Iran for power grid synchronization.

The Iranian deputy energy minister, who also heads the country’s state electricity company, said that Iran seeks to further diversify its electricity supply sources through both a domestic solar expansion program and greater cooperation with allied countries.

Rajabi said Iran wants to enhance electricity cooperation among SCO members, including by establishing regional electricity trade markets and joint projects to expand smart grids.

He said that Iran has already increased its solar capacity fivefold in a year while also pursuing programs to raise its nuclear power generation capacity.

Experts believe that the establishment of an energy consortium within the SCO could lead to major improvements in energy infrastructure in member countries and foster greater economic cooperation within the bloc.

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