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Paper Information

Journal:   ENERGY ECONOMICS REVIEW   SUMMER 2007 , Volume 4 , Number 13; Page(s) 71 To 87.
 
Paper: 

TWO FACES OF ENERGY SECURITY: ENERGY SUPPLY AND DEMAND

 
 
Author(s):  MAZRAATI M.*
 
* ENERGY STUDIES DEPARTMENT, OPEC SECRETARIAT, VIENNA, AUSTRIA
 
Abstract: 

It is for a long time that energy security is the major concern for industrialized energy consumers. The idea of the security of energy supply coincided with the formation of the IEA and setting up of the response mechanism for oil emergency. Since oil and gas account for the biggest share of energy basket, energy security mainly alludes to oil and gas. However the concept of energy security has evolved ever since. It incorporates security of supply security of demand equally. Political and social stability of oil producers and the regional stability and economic development is very meaningful to the security of energy supply. Without socio-economical stability of oil producers, a missing point in the eyes of major industrial powers, a robust energy security will be far from materialization. This paper shows that a multi-dimensionally defined energy security where producers, consumers and the investors share their views, interests, risks and opportunity costs is able to contribute to the emergence of a more secure energy market.

 
Keyword(s): ENERGY SECURITY, SECURITY OF DEMAND, SECURITY OF SUPPLY, EXCESS CAPACITY
 
References: 
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