Could the energy crisis prompt US and China to ‘sit down and work together’?

As the Strait of Hormuz crisis roils world energy markets, China and the US still have strong potential to work together to find solutions, according to a researcher with a Chinese think tank.

Wang Lining – who heads the oil market department at the Economics and Technology Research Institute under state-run China National Petroleum Corporation – also said Washington’s change in direction on energy diplomacy was a “reminder” that Beijing could play a bigger role in global governance.

Wang made the remarks on Monday during a virtual event held by Renmin University of China in Beijing.

He said China and the US remained highly interconnected in the energy sector, despite their strategic rivalry.

“There is still significant room for energy cooperation between China and the United States,” Wang said. “From a structural perspective, the complementarity between the two countries is very strong.”

He noted that the US was a major oil and gas exporter, while China was the world’s largest energy importer – creating a significant opportunity for both.

South China Morning Post