Is the BRICS Saudi Arabia India Energy Deal a Game Changer? The expanded BRICS bloc, with Saudi Arabia potentially joining, is poised to reshape global energy dynamics. Brazil, Russia, India, China, and South Africa have invited six other countries to join the BRICS grouping next year to create a geopolitical counterweight to the existing world order, and energy is a key component of this shift. The inclusion of Saudi Arabia, a major oil producer, alongside energy consumer giant India, could lead to significant changes in energy trade and investment flows.

BRICS Expansion and Energy Security

Brazil, Russia, India, China, and South Africa have announced plans to invite six additional countries to join the BRICS grouping next year, marking a significant shift aimed at increasing the bloc’s global influence. Energy security is a major driver behind this expansion, particularly for countries like India, which heavily rely on imported energy. The potential for preferential energy agreements and investment within the expanded BRICS framework offers new avenues for securing reliable and affordable energy supplies.

India and Saudi Arabia: Cooperating on Energy Transition

India, the world’s third largest crude oil importer, and oil-rich Saudi Arabia resolved to cooperate in energy transition during Union commerce minister Piyush Goyal’s recent discussions. This collaboration signals a move beyond traditional oil trade, focusing on renewable energy, hydrogen, and other sustainable technologies. This cooperation is particularly important considering, as noted in the book, BRICS and Global Governance, emerging markets and developing countries are increasingly playing a defining role in those trends, particularly in the growing cooperation within the energy sector.

A New Era of Energy Cooperation?

The BRICS Saudi Arabia India energy deal, facilitated by the expanded BRICS framework, represents a potential game changer. It could lead to increased energy independence for India, greater investment in renewable energy technologies, and a rebalancing of global energy power dynamics. Whether this cooperation truly marks a new era remains to be seen, but the potential impact on the global energy landscape is undeniable.