GEOPOLITICAL CHALLENGES IN THE CONTEXT OF ENERGY SECURITY AND THE OIL CRISIS
GEOPOLITICAL CHALLENGES IN THE CONTEXT OF ENERGY SECURITY AND THE OIL CRISIS

Summary/Abstract: Energy security is most commonly defined through the prism of a state's energy dependence. In practice, it represents the actual relationship between energy demand and a state’s capacity to either produce that energy domestically or secure it through imports. The strategic goal of any state is to achieve the highest possible degree of energy independence. Geopolitical risks arising from great power competition have shifted the understanding of energy security for energy-dependent nations. The war in Ukraine has triggered numerous changes in the international system, with the most significant challenges spilling over into the energy sector. The energy sector of the Republic of Serbia has been directly affected by these risks. Accordingly, this paper analyzes the primary geopolitical risks to the energy security of the Republic of Serbia, considering the country's specificities regarding its energy balance, energy needs, and its approach to maintaining supply stability and reducing system vulnerability. The authors propose a combination of short-term and long-term strategies as the most effective framework for preserving the energy security of the Republic of Serbia. Short-term strategies must include the optimization of logistical flows, efficient management of strategic reserves, and flexible procurement contracts to ensure system resilience against external shocks...

• Details
• Contents