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Issues for Long-range Projection of International Energy Markets through the Prism of Sustainable Development

Author

Listed:
  • Igbal Guliyev

    (International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University), Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia)

  • Igor Litvinyuk

    (Centre for Strategic Research and Geopolitics in Energy, International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University), Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia)

Abstract

Modern energy system development model requires incorporation of not only demand and supply sides of energy markets, but also reference of new technologies deployment throughout the whole value chain, governmental policies in place, and other non-market indicators that, however, provide for the whole market equilibration by indirect energy resources price regulation. Consequently, overcoming the traditional framework is getting basic precondition for achieving sustainable development in the energy sector, covering the whole energy system for research purposes due to global and coherent transition from forecasting of energy development to constructing of new alternatives and creating a new world which meet the goals of sustainable development. The next step will be a creation of ways of their achievement, and management systems, which allows countries, regions and the whole world to stay on that pathway. The article comes up with suggestions on making alterations to the current practice of energy systems forecasting process.

Suggested Citation

  • Igbal Guliyev & Igor Litvinyuk, 2017. "Issues for Long-range Projection of International Energy Markets through the Prism of Sustainable Development," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 296-303.
    • Handle: RePEc:eco:journ2:2017-02-35
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    References listed on IDEAS

    as
    1. Bhattacharyya, Subhes C. & Timilsina, Govinda R., 2009. "Energy demand models for policy formulation : a comparative study of energy demand models," Policy Research Working Paper Series 4866, The World Bank.
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    Cited by:

    1. Elnur T. Mekhdiev & Nursafa G. Khairullina & Alexandr S. Vereshchagin & Elena V. Takmakova & Olga M. Smirnova, 2018. "Review of Energy Transition Pathways Modeling," International Journal of Energy Economics and Policy, Econjournals, vol. 8(6), pages 299-312.
    2. Igbal A. Guliyev & Elnur T. Mekhdiev & Igor I. Litvinyuk & Alexandr V. Bondarenko & Aibulat R. Yanguzin, 2017. "Global Refining Industry in Retrospect, and Evaluation of Russia-EU Petroleum Products Trade Perspectives," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 209-216.

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    More about this item

    Keywords

    Scenarios; Sustainable Development; International Relations; Global Energy Markets;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting
    • Y3 - Miscellaneous Categories - - Book Reviews

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