THE GLOBAL ENERGY MARKET UNDER SANCTIONS: SUPPLY AND DEMAND, UNCONVENTIONAL ENERGY, COMPETITION AND GEOPOLITICS
https://doi.org/10.48137/26870703_2023_23_3_44
Abstract
The author analyzes the dynamics and features of the world energy markets development in the context of anti-Russian sanctions. Sanctions against Russia had a significant impact on the global energy market, especially oil and gas. They reduced the supply of these resources from Russia, but increased their supplies to Western markets from other countries. European countries began to increase LNG imports from the United States and other sources. They also began developing alternative types of energy, such as nuclear energy and renewable sources. However, these measures required a lot of investment and time, and also had a number of drawbacks.
The sanctions war against Russia led to a sharp reduction in demand for Russian oil, as well as to a collapse in its prices on the world market at the initial stage. In addition, Russia lost its traditional markets in Europe and was forced to look for new consumers, primarily in Asia.
The author describes the features and history of OPEC development and assesses the relationship between the organization and Russia. The article describes the potential for the development of energy cooperation with OPEC countries. In conclusion, the author focuses on the problems of geopolitical confrontation and the impact on global energy markets.
About the Author
A. V. Perov
National Energy Security Fund
Russian Federation
Russian Federation
Perov Aleksander V., Candidate of Political Sciences, Head of the Project Research Department
8/1, Sadovaya- Chernogryazskaya, 107996
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Review
For citations:
Perov A.V. THE GLOBAL ENERGY MARKET UNDER SANCTIONS: SUPPLY AND DEMAND, UNCONVENTIONAL ENERGY, COMPETITION AND GEOPOLITICS. Geoeconomics of Energetics. 2023;(3):44-63. (In Russ.) https://doi.org/10.48137/26870703_2023_23_3_44
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