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EURASIAN ECONOMIC UNION: ENERGY SECURITY, GLOBAL TRENDS AND POLICIES IN THE RENEWABLE ENERGY MARKET
Abstract – Humanity is faced with the problem of energy supply, because it was established that reserves of natural resources especially oil, gas and coal fuels will be depleted in the next 50 years, and as a result development of new strategies to find new types and ways to develop energy sources in order to meet the demand has started. Technological development and innovations became one of the main ways to develop the energy market. The future development of energy technologies identified that renewable energy sources are a main alternative to natural resources. Therefore the aim of the dissertation is to identify the global trends, drivers and policies of renewable energy sources in the Eurasian union. The thesis will identify the role of renewable energy sources in the energy market in the Eurasian Economic Community.
The strategy that has been chosen for the research is a qualitative method of case studies in order to analyze key players in the energy market of the Eurasian Economic Union. The research will be based on the strategies and plans of the companies that operate in the energy market of Eurasian Economic Union, and their main targets and achievements will be discussed. The strategies and policies of Russian Federation will be also analyzed.
The literature review of the work was based on international journal articles, such as Sage, JSTOR and Wiley online library; official reports and papers of the Eurasian Commission and different articles on climate change policies and renewable energy sources.
Keywords energy, Eurasian integration, Eurasian Economic Community common economic space, renewable energy.
I. INTRODUCTION
Implementation of the single energy space strategy is one of the most important stages of the Eurasian economic integration. Today the custom union (CU) and single economic space (SES) energy legislation is largely shaped and governed in accordance with the agreement 2010 and the additional bilateral agreements which are to be signed before the common oil and gas market creation (Ministry of Economic Development of the Russian Federation, 2017). However, progress in this area is slowed by huge divergences between the existing intergovernmental agreements and internal laws of the Eurasian union.
Energy is an important part of everyday life. We cannot live without energy, which heats and gives electricity to our houses and makes our life simple. Increase in the utilization of energy in manufacturing and in different aspects of the economy has influenced the growth in energy demand. Energy efficiency has improved in households, different services, transport communications, agriculture, different business environments and scientific developments. Culture, traditions and government policies of the state all affect energy use by influencing how and where people live and what they do. New technologies, human needs, new gadgets and economic conditions of the world are dependent on the energy sources, especially from electricity, oil, gas and coal.