3 40 China , theEUandLatinAmerica:CurrentIssuesandFutureCooperation ofeconomicalandcleanenergies ”( Hu2006 ) .Hehasalsodevelopedanew energysecurityconceptthatcallsformutuallybeneficialcooperation , diversified formsofdevelopmentandcommonenergysecuritythroughcoordination. Inordertoencouragethe worldskeyenergyconsumingcountriesto strengthenmutualcooperation , Chinahostedamajorenergyconferencewiththe participationoftopoilconsumers ( theUS , Japan , SouthKoreaandIndia ) in December2006.ChinaandOPEChavebeenengagedsince2005inanenergy dialogueaimedatensuringasteadyenergysupply.Chinasdiplomacytoolsfor energysecurityincludedialogueandcooperation , andthegoalistomaintainthe stabilityand security ofinternationalenergy supplies.In particular , China wishestoengageandcooperatewithkeyplayersinworldenergypolitics , which includesOPECandnonOPECenergyproductioncountries , aswellastheG8 , theG20andthemajoroilconsumingcountries.Atpresent , Chinasmainsources ofoilimportsaretheMiddleEastandAfrica , whereanumberofcountriesare unstable.Moreover , thetransportationofoiltakesplacelargelyontheopen sea , andalsothroughtheStraitsofMalacca , whereChinafacesthedangerof piratesandterroristattacks.Therefore , inordertoguaranteethesecurityof energysupplies , China mustdiversifyitsenergyimportsourcesandseekto importoilfromRussia , CentralAsiaandSoutheastAsia , amongothers. Therearethreekindsofoverseasareasin which Chinaisengaged with regardtoenergy.Thefirstcomprisesmarketseekingcountrieswhichwantto retaincontrolofoilresourcesandusesovereignwealthfundstoexchangetheir crudeoilresourcesformarketinfluence ( RussiaandSaudiArabia ) .SaudiArabia accountsforabout17percentofChinasimportedoil.In2006 , thetwostates signedapactonenergycooperationthatcallsforincreasedcooperationandjoint investmentinoil , naturalgasand mineraldeposits.SaudiArabiasAramco OverseasCo.hasprovided USD750 millionofthetotal USD3 billionin investmenttoconstructapetrochemicalcomplexinFujianprovinceinsouth easternChinathatwillprocess8milliontonnesofSaudicrudeoilperyear.In October2005 , CNPCcompletedaUSD4.18billiontakeoverofPetroKazakhstan , Inc. Thesecond categoryconsistsofcountriesin poorregionsthatneed unconditionalforeignaidandinvestment ( Angola , Nigeriaandother African countries ) .ChinaandNigeriasigneddealsthatgaveChinafouroilexploration licensesinNigeriainreturnforacommitmenttoinvestUSD4billioninNigerian infrastructure.ChinaandKenyaalsosignedanagreementforlicensesallowing ChinasNationalOffshoreOilCorporation ( CNOOC ) toexploreforoiloffthe coastofKenya. Thethirdcategoryisthosecountriesin whichthe USandother Western
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