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Strategies in Energy Supply: A Social Network Analysis on the Energy Trade of the European Union

Author

Listed:
  • Cemal Zehir

    (Department of Business Administration, Yildiz Technical University, 34220 Istanbul, Turkey
    Center for Islamic Finance, Azerbaijan State University of Economics (UNEC), Baku AZ 1001, Azerbaijan)

  • Mustafa Yücel

    (Faculty of Economic and Administrative Sciences, Kastamonu University, 37150 Kastamonu, Turkey)

  • Alex Borodin

    (Department of Finance of Sustainable, Plekhanov Russian University of Economics, 117997 Moscow, Russia)

  • Sevgi Yücel

    (Social Sciences Institute, Kastamonu University, 37150 Kastamonu, Turkey)

  • Songül Zehir

    (Social Sciences Institute, Gebze Technical University, 41400 Kocaeli, Turkey)

Abstract

As energy is vital in the sustainability of almost every part of daily life, energy security has become more crucial than ever before. One of the main threats to energy security is a possible disruption along the trade network, which jeopardizes the constant energy supply. The purpose of this research is to identify the relation ties between EU countries in order to clarify the characteristics of the network, such as its crucial actors, vulnerabilities, structural holes, etc., to help achieve some proposals for a more sustainable and secure energy supply. This will help identify the underlying causes of recurring energy crises in the EU and provide insight into developing management strategies for further studies. Following this purpose, we examined the trade network density to clarify typical characteristics of the network, applied degree centrality measures to identify the most central importer and exporter countries, and found the dominance and critical vulnerabilities of actors in the network by using domestic import data of the EU countries. Finally, we recommend some policies and management strategies according to the obtained results and previous literature for further discussion.

Suggested Citation

  • Cemal Zehir & Mustafa Yücel & Alex Borodin & Sevgi Yücel & Songül Zehir, 2023. "Strategies in Energy Supply: A Social Network Analysis on the Energy Trade of the European Union," Energies, MDPI, vol. 16(21), pages 1-15, October.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:21:p:7345-:d:1270845
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    References listed on IDEAS

    as
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    4. Mohammad Fazle Rabbi & József Popp & Domicián Máté & Sándor Kovács, 2022. "Energy Security and Energy Transition to Achieve Carbon Neutrality," Energies, MDPI, vol. 15(21), pages 1-18, October.
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