Energy Export Potential in the Caspian Region and Its Impact on EU Energy Security

Abstract

Energy security has emerged in recent years as one of the cornerstones of the European Union's (EU

A Conceptual Framework to Establish and Operate a Global Logistics Energy Hub

“…A shared concern for both supplying and hub states is the diverse consumption of export markets as a way to increase revenues from their oil and gas exports. Moreover, they search together for alternative transportation means to diversify the transit routes or countries linking them [60,64].…”

“…A number of studies have addressed the energy supply security such as those by Eris [48], Iseri [58], and Gokırmak [11]. As diversification of transit routes is a worry shared between the supply and hub nations, the same concern exists between the hub and the consuming countries [64]. One of the most serious factors for both consuming and hub states is the development of a more reliable and sustainable energy supply system.…”

“…In the first level, the four players are wrapped by three elements, namely, long-term agreements, investments and physical infrastructure, and domestic consumption level. As pointed out by Ibrayeva, Tashtemkhanova [64], exporting and promoting energy cooperation among the partners require some factors such as significant sources of investment and financing, extensive infrastructure, and long-term agreements. Consequently, according to Coskun and Carlson [8], Stegen [56], and Yilmaz-Bozkus [12], the development and modernization of future and existing infrastructure projects for energy production and transportation requires large national and foreign investments and can take years to implement.…”

“…Therefore, the long-term nature of the agreements is critical to remunerate the costs and investments over the longest possible period. Other authors claim that nothing can be done without considering and minimizing the level of internal consumption [42,43], through which the production, transit, and hub countries need to save sufficient energy for the export markets after meeting their domestic demand [56,64]. As for importing counties, they must exploit all domestic energy sources in order to lower their domestic consumption and reduce their dependency on imported energy sources and import bills [8,11].…”

“…In Figure 5, an analysis for the studies reviewed based on the geographical coverage is shown. The future production and export of oil and natural gas mainly depends on several determinants such as availability of energy resources and reserves, production capacities or rates, the technology used for production [7,62,64], and production and transport costs [46]. Additionally, increasing revenues and profits from oil and gas exports are a serious concern for the energy-producing countries [64].…”