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EU Energy Security - Multidimensional Analysis of 2005-2014 Development

Author

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  • Saleh Mothana Obadi

    (Institute of Economic Research, Slovak Academy of Sciences, ancov c. 56 811 05 Bratislava, Slovakia,)

  • Matej Korcek

    (Institute of Economic Research, Slovak Academy of Sciences, ancov c. 56 811 05 Bratislava, Slovakia)

Abstract

Concept of energy security has been subject to multiple attempts for its conceptualization. Nowadays generally accepted approach is based on multiple dimensions and incorporates factors of energy availability, energy affordability, energy efficiency and environmental stewardship. This paper used z-scored standardization methodology in order to empirically examine the development of overall energy security via synthesizing the contributions of individual dimensions. We took into account eleven distinct variables which describes the each dimension. We found out, that most important common denominator that distinguishes the most secured countries from its peers within EU is their ability to generate energy indigenously due to its natural endowments. Our analysis further revealed that dimensions that are covered under common energy policies (energy efficiency and environmental stewardship) show signs growing cohesion across countries. However countries which improved their overall energy security relied primarily on their affordability dimension. We need to add that each dimension contributed its significant share to the total energy security index development.

Suggested Citation

  • Saleh Mothana Obadi & Matej Korcek, 2017. "EU Energy Security - Multidimensional Analysis of 2005-2014 Development," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 113-120.
    • Handle: RePEc:eco:journ2:2017-02-15
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    References listed on IDEAS

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    Cited by:

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    2. Aleksei V. Bogoviz & Yulia V. Ragulina & Svetlana V. Lobova & Alexander N. Alekseev, 2019. "A quantitative Analysis of Energy Security Performance by Brazil, Russia, India, China, and South Africa in 1990-2015," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 244-250.
    3. Gasser, Patrick, 2020. "A review on energy security indices to compare country performances," Energy Policy, Elsevier, vol. 139(C).
    4. Aleksei Valentinovich Bogoviz & Svetlana Vladislavlevna Lobova & Yulia Vyacheslavovna Ragulina & Alexander Nikolaevich Alekseev, 2017. "A Comprehensive Analysis of Energy Security in the Member States of the Eurasian Economic Union, 2000-2014," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 93-101.
    5. Bauyrzhan Yessengeldin & Gulzada Mukhamediyeva & Diana Sitenko & Aiman Zhumanova, 2018. "Problems and Perspectives of Energy Security of Single - Industry Towns of the Republic of Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 8(1), pages 116-121.

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    More about this item

    Keywords

    Energy Security; European Union; Energy Security Index; Z-score Standardization;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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