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The Current State and Problems of the World Energy Market
Chernova O. V., Мorozova I. V.

Chernova, Olga V., and Мorozova, Iryna V. (2021) “The Current State and Problems of the World Energy Market.” Business Inform 5:29–34.
https://doi.org/10.32983/2222-4459-2021-5-29-34

Section: Globalization Processes in the Economy

UDC 339.9

Abstract:
The article is aimed at carrying out a comprehensive analysis of the current state of the world energy market, identifying the main problems of its functioning, and substantiating possible ways to solve them. The research considered the structure of the world energy market, provided a description of its main components. The essence of the energy problem is analyzed, the main causes of its occurrence are defined. It is found that the energy problem occupies a significant place among such global problems of humanity as the threat of nuclear war, epidemic, ecological crisis, demographic problems, international terrorism, etc. A dynamic analysis of the use of traditional energy in the world is carried out. It is determined that due to the limited global reserves of natural gas and oil, in the near future it will be impossible to meet the growing demand of humanity for energy resources. The rating of countries that are trying to actively develop green energy at the State level is presented. The main methods of energy saving of leading countries of the world are highlighted. An analysis of the scale of investment in energy efficiency and energy saving of the leading world countries is carried out. It is determined that China is the leader in investments in green energy. During the research, the essence of the concept of «energy security» is disclosed and its main priorities in the application by different countries are specified. The most important aspects of international energy security are defined. The tendencies of further development of the world energy market are highlighted and the main ways of solving energy problems are proposed.

Keywords: energy supply, energy security, energy efficiency, global energy market, green economy, liquefied natural gas, ecological harmonization.

Fig.: 1. Bibl.: 12.

Chernova Olga V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics and International Economic Relations, Poltava State Agrarian University (13 Skovorody Str., Poltava, 36003, Ukraine)
Email: [email protected]
Мorozova Iryna V. – Masters Student, Educational and Scientific Institute of Economics, Taxation and Customs of the University of the State Fiscal Service of Ukraine (31 Universytetska Str., Irpin, Kyiv region, 08205, Ukraine)
Email: [email protected]

List of references in article

Alami, Kh. A. A., and Hryniuk, T. A. “Tendentsii rozvytku svitovoi enerhetyky ta enerhobezpeka derzhav“ [Trends in World Energy and Energy Security of Countries]. Aktualni problemy krainoznavchoi nauky. 2015. https://evnuir.vnu.edu.ua/bitstream/123456789/12203/1/Haidar_ashur_gryniuk_svitova_energetyka.pdf
“Gas Transmission System Operator of Ukraine“. https://tsoua.com/gts-infrastruktura/mozhlyvosti-gts/
Borodina, O. “Shelling Outlook 2019“. https://www.international-bc-online.org/wp-content/uploads/2019/06/2_20190528-OB-IBC-on-LNG-Outlook_Eng.pdf
“Statistical Review of World Energy“. https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html
“The Most requested natural gas data“. https://www.eia.gov/naturalgas/data.php
“Yevropa rezko narastila pokupki i stala krupneyshim rynkom SPG v mire“ [Europe Has Boosted Purchases to Become the Largest LNG Market in the World]. Biznes Tsenzor. June 17, 2020. https://biz.censor.net/n3202576
“Enerhoefektyvnist i vidnovliuvana enerhetyka: plany ta initsiatyvy na 2016 r.“ [Energy Efficiency and Renewable Energy: Plans and Initiatives for 2016]. http://iceg.com.ua/wp-content/uploads/2016/02/Plan2016.pdf
“Perspektyvy rozvytku svitovoi enerhetyky“ [Prospects for the Development of World Energy]. Enerhetyka: Istoriia, suchasnist i maibutnie. Vol. 5: Elektroenerhetyka ta okhorona navkolyshnyoho seredovyshcha. Funktsionuvannia enerhetyky v suchasnomu sviti. http://energetika.in.ua/ua/books/book-5/part-5/section-3/3-3
Savchuk, K. D. “Osoblyvosti hlobalnoho supernytstva v enerhetychnii sferi“ [Features of Global Competition in the Energy Sector]. Efektyvna ekonomika. 2012. http://www.economy.nayka.com.ua/?op=1&z=1497
World Energy Outlook. IEA 2013-2020.
“World Energy Investment Outlook“. IEA, 2019. https://www.iea.org/reports/world-energy-investment-2019
Chychyna, O. A. “Svitovyi enerhetychnyi rynok: suchasnyi stan i tendentsii rozvytku“ [World Energy Market: Current State and Development Prospects]. Prychornomorski ekonomichni studii. 2016. http://bses.in.ua/journals/2016/7-2016/4.pdf

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