Journal
ENERGY STRATEGY REVIEWS
Volume 38, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.esr.2021.100681
Keywords
Asia and the Pacific; Gravity trade model; Energy trade; Energy security; Russian Federation
Categories
Funding
- JSPS Kakenhi [19K13742]
- Ministry of Education of Japan (MEXT)
- Grants-in-Aid for Scientific Research [19K13742] Funding Source: KAKEN
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The study found that Russian energy exports to the Asia-Pacific region follow the Linder hypothesis, with economic growth positively influencing exports. Sanctions against Russia since 2014 have increased Russian energy exports to the region. To enhance regional pricing power, it is recommended to establish an energy trading hub in the Asia-Pacific region.
Asia remained the largest energy consumer in 2020. The Russian Federation hopes to gain a greater share of the Asian energy market. This study examined the Russian Federation-Asia and Pacific energy trade patterns using gravity trade theory and GMM panel estimation for 17 selected Asia and Pacific economies. We found that the Russian Federation's energy exports to the Asia-Pacific region (APR) followed the Linder hypothesis, and economic growth positively influenced Russian energy exports in the region. Furthermore, The results indicated that the sanctions against Russia since 2014 stimulated an increase in Russian energy exports to the APR. To improve the region's energy security, we recommend developing an energy trading hub in the APR to increase regional pricing power.
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