In recent years, profound changes have happened to principal actors and target of global energy governance, to its features, connotations and tools of governance, and to the main external challenges facing it and to its governance model and mechanisms. Causative factors for the changes include the changed international pattern in which the East ascends and the West descends, the fast moving structural revolution in energy and advancing energy technology, the power shift between the world’s energy-producing states and energy consuming ones and globalization of energy finance.