ENERGY SECURITY IN THE CONTEXT OF INTERNATIONAL ECONOMIC RELATIONS: STRATEGIES OF DIVERSIFICATION AND COOPERATION
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 86)Publication Date: 2024-06-30
Authors : Khomyn Volodymyr; Kirin Roman;
Page : 102-107
Keywords : strategic approach; diversification; energy security; energy efficiency;
Abstract
Introduction. Ukraine is facing a complex geopolitical environment that directly influences its energy sector. This situation entails several risks, including price fluctuations and dependence on suppliers, significantly impacting the stability of energy supplies and the country's overall energy security. Considering the Euro-Atlantic orientation of national foreign policy development, the need to implement successful practices of optimizing the energy sector from foreign countries into Ukrainian realities becomes pressing. Purpose. The aim of the article is to explore energy security as a component of international economic relations in the context of diversification and cooperation strategies. Materials and methods. The theoretical basis of the research includes scientific works of domestic and foreign scholars. The following research methods were used in the study: literature analysis, observation, synthesis, and comparison. Results. The basic conceptual principles of implementing energy security were examined, including ensuring sustained energy independence, integrating into a unified European energy space, intensifying energy efficiency, and harnessing the potential of renewable energy sources. The strategies for diversification and cooperation between Ukraine and the developed international community were analyzed. The prospects for developing energy security to ensure stable energy supply through the activation of a unified energy market and intensive international cooperation were discussed. The pathways to optimize the energy security sector in Ukraine were identified: modernization of the energy system, diversification of supplies, optimization of energy infrastructure, and harmonization of Ukraine's legislation with European standards. Attention was focused on risk management to timely identify potential threats to activities and respond promptly. The advisability of enhancing the adaptive capabilities of the energy sector was substantiated. It was proven that Ukraine's integration into the unified EU energy space and investment support from the international community are essential prerequisites for the intensive development of Ukraine's energy sector. Discussion. Further scientific research will consist in studying the impact of the russian-Ukrainian war on the energy security of Ukraine and the countries of the European Union.
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