2005 - OPEC

Al-Ahmed Al-Jaber Al-Sabah, Prime Minister of Kuwait, for his generous patronage of the
Meeting. Finally, the Conference voiced its special thanks to Sheikh Ahmad Fahad Al-Ahmad
Al-Sabah, Minister of Energy of the State of Kuwait, and his staff for their warm hospitality
and the excellent arrangements made for the Meeting. Resolutions that were passed will be
published on 12 January 2006, after ratification by MCs.
Joint statement of the 1st China-OPEC Energy Dialogue
Beijing, People’s Republic of China, 22 December 2005
A formal Energy Dialogue has been established in Beijing today between the People’s Re-
public of China and OPEC. The delegations were headed by Minister Ma Kai, Chairman of
the National Development and Reform Commission, People’s Republic of China, and Sheikh
Ahmad Fahad Al-Ahmad Al-Sabah, the OPEC President and Secretary General, who is also
Kuwait’s Minister of Energy. The purpose of the Energy Dialogue is to establish a balanced,
pragmatic framework for cooperation, and to develop an ongoing exchange of views at all levels
on energy issues of common interest, in particular security of supply and demand, in order to
enhance market stability.
China’s economic growth requires secure, steady supplies of energy, while OPEC’s crude oil
reserves and production are expected to continue growing, ensuring that there will be enough
oil to meet rising world demand for decades to come. Some of OPEC’s MCs also have sub-
stantial quantities of gas.
The Energy Dialogue covers broad issues and will build upon the existing oil and gas bilat-
eral investment and trading relations between China and many OPEC MCs. In doing so, it
will provide an insight into critical global energy issues, as well as identify potential areas for
cooperation. Both parties believe that effective producer-consumer dialogue provides a “win-
win” situation for all participants, as well as for the industry as a whole. The framework for
the China-OPEC Energy Dialogue was set up at today’s meeting, determining its objectives,
scope, modalities and overall structure. It was stressed that there should be a pragmatic and
sustained process of dialogue, that would maintain its momentum at all times, regardless of
short-term developments in the market.
It was agreed that there would be meetings at Ministerial level at mutually convenient times,
as well as technical exchanges. Both parties will hold a high-level technical roundtable in
Vienna in the first half of 2006.