The Issue Of Energy Cooperation Within The EAEU

Abstract

Enlarged globalization process and development of world economy is accompanied with augment- ed consumption of energy resources while reducing energy stocks, leading to enhanced regional energy disproportions, rapid growth of number of countries without energy resources. Obviously, the integra- tion of countries and cooperation between integrated unions in energy sector is necessary for minimizing negative outcomes of these processes and ensuring reliable energy economy and security. The article will discuss the energy security issue in the EAEU; It will analyze positions and interests of EAEU member states with regard to priority directions of energy security; it will reveal approaches of other regional ac- tors, particularly China, in energy security formation in Eurasia, and provide recommendations to ensure energy security within EAEU. The article raises question on whether member states can ensure their energy security with their different energy potential, considering the devaluation of national currencies and lowered prices on energy resources. Conclusions will be made with regard to current level of energy security of EAEU; the prognostic methods will be applied for evaluating internal and external factors af- fecting energy security and alternative solutions will be identified.