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IEF urges to boost global energy transition process

Xinhua, September 29, 2016 Adjust font size:

The 15th annual International Energy Forum (IEF 15) has wrapped up here on Wednesday, as the participants urged for strengthening the process of energy transition as an alternative to fossil and nuclear fuels.

The IEF Secretary General Sun Xiansheng stressed the commitment of participants to continue strengthening dialogue between energy producing and consuming countries to cope with market disruptions.

Algerian Energy Minister, Noureddine Boutarfa, for his part, said the participants unanimously agree that "the current crisis hitting the market should not undermine the energy transition process."

The two-day forum, with the challenge of energy transition amid slumping oil market as the main theme, gathered 52 nations, including energy ministers and managers of oil companies, discussing issues including green renewable energies and the plunging oil prices.

The participants called on to continue dialogue between producers and consumers to enhance global energy security and facilitate energy transition.

They also stressed the consequences of the imbalances of energy market amid dropping oil prices, which weaken the investments and may cause possible reduction of the supply in the future.

The next IEF meeting will be held in 2018 in India and co-organized by China and South Korea. Endit