Beginning the meeting, M.Enkhbold expressed his satisfaction with sharing views with the GEIDCO chairman on establishing a regional-level energy network in Mongolia.

“Mongolia has high reserve of energy, and the energy sector plays an important role in the Mongolia-China cooperation. Last years, we were able to realize mega-projects and programs, but they have not been implemented due to political and financial reasons,” the Speaker said.

The Speaker pointed out that Mongolia, China and Russia are talking to build developmental railways that will connect the infrastructure of the three countries. The three countries are focusing attention to bringing their collaboration in five directions--auto road, airways, railways and pipelines of gas and liquid fuels. These works will be realized when the countries reach a consensus, Enkhbold said.

Expressing thanks to the Speaker for the audience, the GEIDCO chairman gave some information about a China’s initiative on founding Global Network of Energy, a plan of establishing the Energy Network of Northeast Asia and the “Shivee-Ovoo” project on energy export.

“Energy consumption of China, South Korea and Japan account for about 65% of the total consumption in Asia. It is expected that the China’s consumption will go up by nine trillion KWT, South Korea--by 12 trillion KWT, and Japan--by 0.7 trillion by the year 2030. It means that the energy market will definitely broaden, and it is important to building up the competitive energy network,” Liu said. He emphasized that the Shivee-Ovoo project energy export is capable to boost the bilateral cooperation in economic and energy fields, and to become a competitor in the Northeast Asian energy market.

Liu also mentioned that Mongolia is possible to be connected with an energy infrastructure network and to boost mutually-beneficial cooperation in energy and renewable energy industries because the country is geographically closely loacted to countries with high consumption of energy.