IDEAS home Printed from https://ideas.repec.org/a/eri/review/4111-22.html
   My bibliography  Save this article

The Formation of the EU’s Energy Union and Its Implications for the Northeast Asian Energy Market

Author

Listed:
  • Lee, Sung Kyu

    (Korea Energy Economics Institute)

  • Jeong, Hye Yeong

    (Korea Energy Economics Institute)

Abstract

Since the European Commission announced the "Energy Union" in February 2015 to make efforts toward integrating the EU's internal energy market, it has been expected that secure, sustainable, competitive and affordable energy would be delivered to consumers in the European Union. However, it would not be easy to achieve this goal, considering the historical barriers remaining in the EU's energy market, such as heavy dependence on Russian energy, insufficient regulatory frameworks, and lack of funds to modernize aging infrastructure and to enhance interconnectivity. The energy market in the Northeast Asian region could learn lessons from the EU's historical experience over the last decade and the formation process of the Energy Union. A Northeast Asian energy market is necessary for initiating an integrated energy grid, a multilateral cooperation mechanism, and collaborative regional energy research to further economic synergy within the region.

Suggested Citation

  • Lee, Sung Kyu & Jeong, Hye Yeong, 2016. "The Formation of the EU’s Energy Union and Its Implications for the Northeast Asian Energy Market," The Northeast Asian Economic Review, ERINA - Economic Research Institute for Northeast Asia, vol. 4(1), pages 11-22, March.
    • Handle: RePEc:eri:review:4:1:11-22
    as

    Download full text from publisher

    File URL: https://www.unii.ac.jp/erina-unp/archive/en/wp-content/uploads/2018/05/naer41-2_tssc.pdf
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eri:review:4:1:11-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hirofumi Arai (email available below). General contact details of provider: https://edirc.repec.org/data/erinajp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.