Iran and the BRICS: The Energy Factor

The global economy is undergoing a paradigm shift, from a Western-dominated economic model to one that is more complex and multi-polar. The centres of consumption, production, and innovation are no longer concentrated solely in the Western economies, but are shifting to new emergence economies in different continents, specifically China, Russia, Brazil, and India, as well as South Africa, named BRICS. One of the central issues for the future of this new coalition is energy security. This concept is a top priority of policymakers not only in the West hemisphere, but also in countries of the economically emerging world in current and also coming decades. Worldwide demand for primary energy will increase in next years either and based on international forecasts, hydrocarbon will still be the dominant source of energy. Consequently, widespread energy relationships with other oil and gas-rich countries outside BRICS like OPEC, in general, and Iran, in particular, seems much more significant. The latter, as the second country throughout the world in terms of combined fossil reserves, benefits an outstanding geo-economic position. Obviously, Iran would be able to play a prominent role in this respect. So, this question could be raised that what are the main challenges, as well as opportunities for Iran and BRICS in any actual and potential interactions in energy field?