Decarbonization as a Global Challenge for Energy Exporting Countries

The modern processes of globalization of the world economy are associated with the decarbonization of the energy market. This fact indicates that in the future, the economies of energy exporting countries will increasingly depend on this trend. This article discusses the general issues of the influence of energy exporting countries on the global economy. The process of divergence of the global economy, as well as the impact of sanctions on economic processes, is being investigated. Various scenarios for the development of the above-mentioned processes are analyzed, taking into account the direction of the transition of the world powers to a low-carbon economy. Such a transition is associated with various risks, especially relevant for developing countries. The hypothesis of the study is that in the context of decarbonization and energy transition, energy exporting countries will face technological and market challenges that can significantly affect economic growth and their development prospects. The economic, technological, and social blocks of economic activity of the countries that are the world's main energy suppliers are studied. The conclusions concerning the problems associated with risks for energy exporting countries during the transition of the world's economies to a low–carbon economy and their abandonment of fossil fuels are substantiated. The mechanisms of adaptation of the world market to the changing conditions of functioning of the global economic space are determined. Methods of theoretical modeling, comparative and system analysis were used as a universal means of scientific knowledge. The problems are systematized, the solution of which eliminates the main risks for the countries of the energy exporting group during the transition from fossil fuels to a low-carbon economy with further global decarbonization. As recommendations, the authors propose various scenarios that take into account the prospects for the development of the economies of the main energy exporting countries in the context of decarbonization of energy resources.