UDC 327:620.9
Biblid: 0543-3657, 67 (2016)
Vol. 67, No 1161, pp. 83-108

Review paper
Received: 22 Nov 2015
Accepted: 22 Dec 2015


Arežina Dr Sanja (Dr Sanja Arežina, Institut za društveni razvoj Jugoistočne Evrope (SEESDI)), sanja_arezina@yahoo.com

Energy represents one of the most crucial factors of the global economic development. Outgrowing the pure economic significance, it has touched on a number of new fields, security being one the most prominent kind. Volatility of the global system has put into focus the necessity of reaching energy security, looking both from the energy exporter and from energy importer states\' point of view, but including transit countries as well. A number of indicators that influence energy security (especially energy prices), and the need for its institutionalisation, tell us how the whole energy market is changing and dependent on the complex scheme of interests where every player has its own role in maintaining the basic stability. The emergence of energy security dilemma is the prime example of the way that the behaviour of one state affects the behaviour of other states. Therefore, the highlight of the near future will be placed onto measures for energy supply diversification in order to minimise the impact of energy security issues on overall foreign policies. At the same time, the new transformation of the global energy market tells us that the time of the changing geopolitical map and roles has come.

Keywords: energy, energy security, energy security dilemma, diversification, geopolitics