Measuring Energy Security of Energy-exporting Countries: Focus on Russia

• Main Author: Yoon, Youngmin
• Format: text
• Published: Animo Repository 2022
• Subjects: energy security of Russia; energy security index; energy-exporting countries; diversity of energy system; stability of energy system; the economic feasibility of energy production
• Online Access: https://animorepository.dlsu.edu.ph/apssr/vol22/iss4/8; https://animorepository.dlsu.edu.ph/context/apssr/article/1477/viewcontent/RA_207.pdf
• Institution: De La Salle University

Energy security has been a question of how to stably supply fossil energy resources to an economy at the appropriate price as needed. Therefore, it has been a question for energy importers, and energy security issues in large energy-producing and exporting countries such as Russia have received little attention. In this study, the energy security of exporting countries is defined as an economic contribution through stable production and export of fossil energy resources based on the analysis of existing researches. Along with the definition, an energy security index consisting of stability, economy, and diversity of energy production and exports is developed. Using the index, the recent energy security level of Russia is estimated. As a result, it turns out that Russia’s energy security level has generally improved since 2000, and improvements in the stability and diversity of energy production and exports have driven this trend. The expansion of crude oil and natural gas exports to the Asian market, mainly Korea, China, and Japan, has had a significantly positive effect on improving Russia’s energy security. However, at the same time, it has brought increasing dependence on crude oil exports to China, indicating that Russia needs to diversify exports within the Asian market. On the other hand, the economic feasibility of energy production and exports has continued to decline rapidly, limiting the improvement of Russia’s energy security index.