Title: Asia-Africa energy development cooperation: double coincidence of interests

Authors: Ahmad G. Khaleel; Milindo Chakrabarti; Mridul Dharwal

Addresses: Department of Economics & International Business, School of Business Studies, Sharda University, Greater Noida, Uttar Pradesh, India; Department of Economics and Development Studies, Federal University, Dutse, Jigawa State, Nigeria ' Jindal School of Government and Public Policy, O.P. Jindal Global University, Sonipat, Haryana-131001, India; Research and Information System for Developing Countries, India Habitat Centre, New Delhi, India ' Department of Economics & International Business, School of Business Studies, Sharda University, Greater Noida, Uttar Pradesh, India

Abstract: Double coincidence of interests between Africa and India particularly and Asia generally is becoming more apparent with the emergence of needed tools, frameworks and conditions for simultaneously satisfying all parties interests. This cannot be timelier than now that, development challenges amid resources abundance in Africa can be near-perfect match to the emerging excess capacities/energy need in India to create one of the best opportunities that will systematically result in a win-win situation. Africa's resources potential of meeting India's hydrocarbons energy needs while hosting investments to improve financial and technological absorptive capacities indicates the more obvious benefits of such cooperation. However, any energy collaboration strategy should consider the implicit climate change/action impacts (carbon lock-in/carbon bubble) vis-à-vis the cooperation conditions, as world is witnessing the changing attitude of some emerging powers in debt-ridden arrangements towards weaker countries. This will go a long way in uplifting the reputation and acceptance South-South Cooperation.

Keywords: hydrocarbons; Africa; carbon bubble; carbon lock-in; energy security.

DOI: 10.1504/IJGEI.2021.118921

International Journal of Global Energy Issues, 2021 Vol.43 No.5/6, pp.692 - 705

Received: 27 May 2019
Accepted: 04 May 2020
Published online: 12 Nov 2021 *

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