“Grouping” or “Ride One’s Coattails”?—How Developing Countries along the Belt and Road Satisfy Themselves

China’s Belt and Road Initiative (BRI) will inevitably affect global energy cooperation. Along the Belt and Road, there are many developing countries. To understand the energy cooperation and development of these countries comprehensively is of great significance to guide their development and evaluate the impact of the BRI on the world energy and economic pattern. However, there is insufficient attention on those countries. Based on embodied energy analysis, a method which can track direct and indirect energy consumption in the economic system, effectively linking energy with the economy and environment, this paper proposes an evolution model of the embodied energy flow of the countries. Then, it simulates the evolution of the embodied energy flow under different cooperation strategies. The results show that if cooperation between countries positively affects their cooperation with other countries, adopting a mixed strategy is an advisable choice. On the contrary, cooperation with “powerful” countries in the network will be more conducive to the embodied energy flow. This article provides a new perspective and foundation for further discussion on the economy, trade, and energy cooperation along the Belt and Road.