Energy Dependence and Supply Security

The 2022 invasion of Ukraine by Russia shocked the European and global energy markets, leading to emergency interventions and market reforms to limit the impact on prices and supply security. This crisis sparked a reappraisal of foreign supply and infrastructure dependencies, leading states to adopt new legal initiatives to strengthen their clean energy supply chains. Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, illustrating the paradox of energy law and security. It examines the legal responses adopted by the European Union to the Russian energy shock and proposes innovative supply security reforms to manage dependencies while preserving international collaboration for the transition to clean, affordable, and secure energy systems.

Format: Unspecified
Length: 272 pages
Publication date: 07 November 2023
Publisher: Oxford University Press

Russia's 2022 invasion of Ukraine has caused an unprecedented shock to the European and global energy markets, leading to emergency interventions and market reforms to limit the impact of the crisis on energy prices and supply security. This supply shock has sparked a profound reappraisal of foreign supply and infrastructure dependencies, leading states to adopt new legal initiatives to strengthen the resilience of their clean energy supply chains. Energy geopolitics and supply security are now firmly back at the center of global energy policy, and we critically need to reassess the role of energy law in the creation and avoidance of dangerous energy dependencies.

Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, an issue seldom considered outside of economic statecraft and energy geopolitics. The book examines the legal responses adopted by the European Union to the impact of the Russian energy shock, reflecting on strategies to avoid similar disruptions in the clean energy industry. In turn, it proposes innovative supply security reforms that would allow dependencies to be managed while still preserving the international collaboration needed to accelerate the transition to clean, affordable, and secure energy systems.

The 2022 energy crisis has highlighted the paradox of energy law and security. Legal instruments of energy security have helped create the supply and infrastructure dependencies that have allowed for the weaponization of energy. The book examines the legal responses adopted by the European Union to the impact of the Russian energy shock, reflecting on strategies to avoid similar disruptions in the clean energy industry.

One of the key findings of the book is that the European Union's legal framework for energy trade and investment has played a significant role in creating the supply and infrastructure dependencies that have allowed for the weaponization of energy. The EU's regulatory framework has been designed to promote competition and investment in the energy sector, but it has also created incentives for countries to develop their own energy resources and infrastructure. This has led to a concentration of energy production and infrastructure in a few countries, making them vulnerable to geopolitical shocks and supply disruptions.

To address this issue, the book proposes innovative supply security reforms that would allow dependencies to be managed while still preserving the international collaboration needed to accelerate the transition to clean, affordable, and secure energy systems. One of the key proposals is the development of a global energy governance framework that would involve all stakeholders in the energy sector, including governments, companies, and civil society. This framework would be designed to promote cooperation and coordination in the development and deployment of clean energy technologies, while also ensuring that energy resources are managed sustainably and responsibly.

Another key proposal is the development of a global energy reserve system that would be designed to mitigate the impact of supply disruptions and geopolitical shocks. This system would involve the pooling of energy resources from different countries and the deployment of emergency response mechanisms to ensure that energy supplies are maintained during times of crisis. The book also proposes the development of a global energy standards framework that would ensure that clean energy technologies are developed and deployed in a uniform and consistent manner, while also promoting innovation and competition in the energy sector.

In conclusion, Russia's 2022 invasion of Ukraine has caused an unprecedented shock to the European and global energy markets, leading to emergency interventions and market reforms to limit the impact of the crisis on energy prices and supply security. Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, highlighting the paradox of energy law and security. The book proposes innovative supply security reforms that would allow dependencies to be managed while still preserving the international collaboration needed to accelerate the transition to clean, affordable, and secure energy systems. By implementing these reforms, we can ensure that the energy sector is more resilient, sustainable, and secure in the face of the challenges of the 21st century.

Weight: 566g
Dimension: 240 x 162 x 20 (mm)
ISBN-13: 9780198890478