Insights

The Global & Regional Energy Security


Understanding the complexities of the notion of Energy Security across the globe



Energy Security and Climate Change: A Global Imperative

Energy security refers to the quantity of affordable and accessible usable and replenishable energy available to all segments of society. This multifaceted issue is intricately linked to various economic, geopolitical, geological, ecological, and institutional factors. While addressing climate change stands as a pivotal global initiative, enhancing energy security represents another focal point in international endeavors. Concurrent efforts to address both dimensions contribute to improved human well-being and the preservation of the natural environment. The absence of initiatives or policies to tackle these considerations compromises global energy security, thereby amplifying the impacts of climate change.


Figure 01

Reserves in Billions of tons of oil equivalent – Btoe





Energy Security Factors and Economic Growth in the Middle East

Various factors contribute to a country’s energy security, encompassing elements such as the frequency of warfare and natural disasters, the level of technological development, the intricacies of relationships with neighboring and non-neighboring nations, and the availability of natural resources. Research findings indicate that developing countries exhibit a heightened vulnerability to diminished energy security in comparison to their developed neighboring counterparts. In the context of the Middle East, the region prominently features an abundance of fossil fuel resources. An empirical study, conducted across a sample of countries, aimed to discern the relationship between a country’s energy security and its economic growth. It becomes evident that any impact on energy security possesses the potential to influence the economic growth of a country to a discernible extent. Specifically, for countries serving as major energy exporters, a 1% decline in energy security corresponds to a less than 1% reduction in economic growth. Conversely, in fossil fuel-dependent nations, such a decline in energy security leads to an economic growth reduction exceeding 1%


Table 01

Energy Resources in the Middle East and their importance towards key countries



Sources

Alves, B. (2021, December 14). Number of people without access to electricity worldwide from 2000 to 2021, by region. Retrieved October 10, 2022, from Statista: https://www.statista.com/statistics/829803/number-of-people-without-access-to-electricity-by-region/

Brown, M. A., & Sovacool , K. B. (2011). Climate Change and Global Energy Security: Technology and Policy Options. London, England: The MIT Press. Retrieved October 10, 2022

Kartal, G. (2022, June 29). The Relationship Between Energy Security, Exports and Economic Growth: The Case of Middle Eastern Countries. Turkish Journal of Middle Eastern Studies, 9(1), 15-45. doi:10.26513/tocd.899337

Proninska, K. (2007). Energy and security: regional and global dimensions. In SIPRI, SIPRI Yearbook 2007 (pp. 215-240). Signalistgatan: Stockholm International Peace Research Institute. Retrieved October 10, 2022, from https://www.sipri.org/sites/default/files/YB07%20215%2006.pdf






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