Journal
MONTENEGRIN JOURNAL OF ECONOMICS
Volume 19, Issue 3, Pages 125-135Publisher
ECONOMIC LABORATORY TRANSITION RESEARCH PODGORICA-ELIT
DOI: 10.14254/1800-5845/2023.19-3.14
Keywords
Energy supply security; energy import dependency; energy import diversification; concentration Baltic States
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The aim of this paper is to analyze the concept of energy supply security and indicators used to measure energy security. The main issues considered are energy import dependency, energy supplier concentration/diversification, and available energy infrastructure. Based on a literature review, a framework of energy security indicators is developed and applied to evaluate Baltic States. An advanced MCDM tool is used to rank Baltic States, as their performance in specific aspects of energy security varies greatly. The analysis shows that Estonia performs the best in terms of energy security, mainly due to its low level of total energy import dependency. Policies and measures to promote energy supply security are developed based on the research findings.
The aim of this paper is to analyse energy supply security concept and indicators used to measure energy security based on the main issues such as energy import dependency, energy supplier concentration/diver-sification and available energy infrastructure. The framework of energy security indicators was developed based on literature review. The frame-work was applied to evaluate Baltic States based on energy security in-dicators. The advanced MCDM tool was applied to rank Baltic States based on energy security indicators as countries have very different per-formance in terms of specific aspects of energy security making their ranking impossible. MCDM applied allowed to define that the best per-forming country in terms of energy security was Estonia mainly due to very low level of total energy import dependency. The policies and measures to promote security of energy supply were developed based on results and findings of research conducted.
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