BRICS plans energy association in wake of new bank

21 July 2014

Russian President Vladimir Putin has announced plans to establish a BRICS "energy association" that will include a fuel reserve bank and an energy policy institute.
BRICS is a grouping of major emerging economies that includes Brazil, Russia, India, China and South Africa. Fifty of the 66 nuclear reactors currently under construction are in BRICS states.
"These steps would allow us to strengthen our nations' energy security and prepare us for the creation of new instruments and new institutes to trade energy resources," Putin said.

http://www.world-nuclear-news.org/NP-brics-states-plan-energy-association-in-wake-of-new-bank-21071401.html