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Nord stream 2, geopolitical conflicts and energy security: Evidence from EU regions

Author

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  • Zhang, Qingjun
  • Chen, Rong
  • Ma, Sijie
  • Liang, Anran

Abstract

The implementation and advancement of the Nord Stream 2 gas pipeline construction project has pushed European energy disagreements to the forefront. This paper explores the influences of geopolitical conflicts on energy security based on a difference-in-differences (DID) model, using the cross-country panel data for the period 2011 to 2019. First, the results indicate that the geopolitical conflicts arose from the Nord Stream 2 gas pipeline construction project could worsen the energy security of countries in European region. Second, it presents that the inhibitory effect is mitigated with the increase of the renewable energy technologies development. However, it is more pronounced in regions with higher financial development level due to the linkage of energy market with financial market. Further, the empirical results reveal that geopolitical conflicts weaken energy security through the global import and export, FDI channels. Our findings provide a cross-country evidence on energy security issues from geopolitical conflicts perspective, and pay attention to countries’ energy security strategies for decision making.

Suggested Citation

  • Zhang, Qingjun & Chen, Rong & Ma, Sijie & Liang, Anran, 2024. "Nord stream 2, geopolitical conflicts and energy security: Evidence from EU regions," Energy, Elsevier, vol. 313(C).
    • Handle: RePEc:eee:energy:v:313:y:2024:i:c:s0360544224036144
    DOI: 10.1016/j.energy.2024.133836
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