GLOBAL ENERGY SECURITY

Tatyana A. Mitrova

The latest developments on global energy markets have once again made energy security a priority. Soaring oil and gas prices, accompanied by significant fluctuations, disruption of energy supplies due to natural calamities (the hurricanes in the Gulf of Mexico) and terrorist attacks (the explosion of Georgian gas pipelines), tensions on the petrochemicals market – all this prompts us to think seriously of threats to economic growth in the near-term outlook and energy security in the long-term prospect. Of no less concern are issues of environmental safety closely connected with the energy industry's development.

All countries, both producers and consumers, poor and rich, are interested in one crucial issue: reliable supply of energy resources to global economy necessary for stable economic growth, at prices complying with main economic principles and with minimum damage to the environment.

This survey is an attempt to summarize the existing approaches to analysis of energy security. The authors examine the current situation on the world markets, detecting the main sore spots and offering strategic directions for solving long-standing problems.

All these are just starting points for working out a global concept of energy security. Mankind's concern about the problem should bring forth joint, well-considered approaches and a global program of counteracting current and potential challenges to energy security.

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