The Influence of Geopolitical Factors on the Energy Sector: Analysis of Challenges and Risks
DOI:
https://doi.org/10.31861/mhpi2023.48.136-143Keywords:
energy policy, geopolitics, energy security, energy transition, weaponization of energy resources, energy sovereignty, sustainable development, energy securitisationAbstract
Global trends in the functioning of the energy sector are analysed in terms of the major challenges and risks. The systematic approach made it possible to study the simultaneous influence of a series of factors on the global energy sphere. The hypotheses are verified that: 1) geopolitical factors have the strongest influence on the energy sphere on a global scale today; 2) the current global energy transition will be a complicated and protracted process, during which new forms of energy dependence of some states on others are likely to emerge. The purpose of the research is a comprehensive analysis of global trends in the functioning of the energy sector, and the determination of the system of challenges and risks that affect it. The objectives of the study are: 1) elucidation of the influence of energy resources on the geopolitical power of states and the influence of geopolitical factors on energy security, stability of the energy system; 2) analysis of the impact of the current energy transition on global security and new probable challenges and dependencies. Decarbonization, digitalization, and decentralization are identified as the key trends in the development of global energy, which are subject to numerous challenges and risks (geopolitical, ecological, economic, social, etc.). It is noted that on a global scale, the energy sphere is characterized by: a gradual decrease in the share of fossil fuels and an increase in the share of green energy; problems with the solidarity of states regarding the energy transition and its pace; a strong influence of geopolitics on the energy policy; weaponization of energy resources; growing risks of forming new energy dependencies on those states that mine and enrich critical metals and minerals, etc.
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Copyright (c) 2023 Nataliia Khoma, Oksana Khimiak
This work is licensed under a Creative Commons Attribution 4.0 International License.
