Conceptual basis of national energy security against the backdrop of global challenges

Abstract

The article presents theoretical generalization and provides the substantiated solution of scientific and practical problem regarding the development of theoretical and methodological framework for the assurance of energy security of a country. The authors carried out a detailed analysis and specified the leading trends in the world energy market and obtaining resources, researched the distribution of countries in the issue of energy production and consumption, which is fundamental for energy security of a country. They also fostered scientific theories realting to the economic policy of energy sector in the global context, introduced the сriteria for assessing energy security of a country. One developed the structure and content of the energy risk management system, which makes it possible to identify and assess the probability of risk occurrence. Matrix for the assessment of energy security risks has been formed. One developed the energy efficiency improvement scheme based on the use of renewables in economy in order to reduce energy consumption and ensure the harmonious development of energy conservation system. The scheme helps to form power management systems, extend the authority of national institutions in matters of energy efficiency and conservation in order to improve energy efficiency of the economy and to reduce energy costs. The use of energy is essential to the existence of any country in the modern world. Electric power industry is extremely important for the economy and has a major impact on its sectors, since their normal functioning depend on it. The key to energy security of a country and therefore its sustainable development is reliable, stable, sufficient, cost-effective and environmentally friendly energy supply. Ensuring energy security is hence becoming a priority area for economic and national policies of countries, while changes in the world energy market constantly confirm the relevance of this problem to the entire global community. Issues relating to the rational use of energy sources, the increase of energy efficiency and security are a prerequisite for the harmonious economic and social progress of the 21st century country. The provision of all spheres of the national economy with different types of energy and fuel is one of the most important tasks of management system, economic policy of a country, fundamental condition for its successful and harmonious development. It is noteworthy that, energy security issue cannot be solved separately by each country (through autocracy or self-sufficiency only). Energy today has an extremely high level of globalization. Thus, there is a definition for the concept of global energy security, which is a complex notion that means not only the reliable provision of the world economy with different types of energy at reasonable prices with minimal losses to the environment (minimal negative impact), but also the safety of the world community and all its members from possible risks and threats to political stability in the world and to sustainable social and economic development, related to both present and future worldwide energy situations.