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Factors of the Formation of Modern Energetic Reality in North Western Europe

Author

Listed:
  • Fe Amor Parel Gudmundsson

    (University of Iceland, Reykjavik, Iceland,)

  • Sergey Prosekov

    (Financial University under the Government of the Russian Federation, Moscow, Russia.)

  • Natalia Sokolinskaya

    (Financial University under the Government of the Russian Federation, Moscow, Russia.)

  • Sergey Tarakanov

    (Financial University under the Government of the Russian Federation, Moscow, Russia.)

  • Evgeniy Lopatin

    (Financial University under the Government of the Russian Federation, Moscow, Russia.)

Abstract

The paper proposes the radical transformation of the global energy market is influenced by a combination of geopolitical, macroeconomic, technological realities, the combination of which leads to fundamental changes in the world order in the development of the gas segment. The paper uses the method of energy balance. It proved ensuring growth in gas production and transportation, production and sale of high value-added gas products in the domestic, European and Asian markets. The onset of the Golden Age of Gas, according to the forecast of the International Energy Agency (IEA), is expected by 2035, when global gas consumption will increase by one and a half times. The study result is that the expansion of the range of gas resources and the modernization of the structure of the gas industry, the formation of the latest Eurasian energy architecture in the face of increasing competition in international markets necessitate the strengthening of Russia's leading positions in the global gas market.

Suggested Citation

  • Fe Amor Parel Gudmundsson & Sergey Prosekov & Natalia Sokolinskaya & Sergey Tarakanov & Evgeniy Lopatin, 2020. "Factors of the Formation of Modern Energetic Reality in North Western Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 539-544.
    • Handle: RePEc:eco:journ2:2020-04-67
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    North Western Europe; strategy; union; partnership; forecasting;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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