The Analysis of Natural Gas and Crude Oil Market from the Global and EU Perspective

• Authors: Saleh Mothana Obadi , Matej Korček
• Languages of publication: EN

Abstracts

EN

This paper deals with the development of the crude oil and natural gas market in the world and especially in the EU. The analysis of the mentioned energy commodities are based on time serious statistical data and legislative documents and treaties adjusting the energy market. In this paper we analyze how the natural gas and crude oil as the two energy sources that are on the one hand most important in the energy mix and on the other hand least available within the very territory of EU itself therefore meaning the largest threat to the energy security of EU countries. We focus on analyzing of development of the worlds crude oil and natural gas development as the economic environment developed during last 20 year. Then we characterize what has EU done as the reaction on this development and finally we analyze the impact on EU in terms of supply and demand for natural gas and crude oil in first decade of 21st century. We found that, in 2009, the 66 % of EU natural gas imports were from four countries (Russia, Algeria, Norway and Nigeria) and the EU crude oil imports reached about 87 %.

Keywords

EN

Crude oil; natural gas; energy market; EU; energy supply and demand

• Publisher: Sciendo
• Journal: Studia Commercialia Bratislavensia
• Year: 2012
• Volume: 5
• Issue: 18
• Pages: 282-296

Dates

online

2012-11-06

Contributors

author

Saleh Mothana Obadi

• Institute of Economic Research, Slovak Academy Sciences, Šancova 56, 811 05 Bratislava

author

Matej Korček

• Institute of Economic Research, Slovak Academy Sciences, Šancova 56, 811 05 Bratislava

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Identifiers

DOI

10.2478/v10151-012-0004-9