Development opportunities and suggestions for Chinese energy enterprises in Ecuador's energy sector
As an important node of the 21st Century Maritime Silk Road,Ecuador's energy industry is currently facing multiple challenges such as a single energy structure,obstacles from local communities,and weak energy infrastructure,and is affected by a severe power shortage in 2024.Currently,the Government of Ecuador is actively promoting the energy transition and encouraging investment in renewable energy.Apart from renewable energy,there are opportunities for foreign companies in Ecuador's oil and gas and thermoelectricity projects,energy infrastructure construction,international financing,and technical support.Chinese energy companies have already established a good foundation for cooperation and achieved fruitful results in Ecuador's infrastructure and energy fields,especially in the oil and renewable energy development industries.It is recommended that Chinese energy enterprises pay attention to cooperation in renewable energy development,strengthen localized operation and management,enhance cooperation with Ecuadorian state-owned enterprises,strengthen situation analysis,and prevent cooperation risks,so as to achieve more sound and sustainable development of Ecuador's energy sector.