WORLD ENERGY MARKET: CURRENT STATE

Abstract

The article is devoted to the study of the current state of the world energy market. The structure of the energy market, which consists of traditional (oil, natural gas, coal) and non-traditional (solar energy, water energy, nuclear energy, geothermal energy, biomass energy) energy, is considered. The systemic disposition of the transformation of the world energy market has been studied. An analysis of primary energy consumption and primary energy production in the world by types of fuel and energy resources was carried out, the results of which determined that the structure of the world energy market is becoming more diversified every year. It has been studied that the burning of fuel and energy resources leads to significant emissions of greenhouse gases into the atmosphere and warming of the climate. Greenhouse gas emissions only increased from 1985 to 2005, which is due to the increase in production and consumption of fuel and energy resources on the planet. Emissions of greenhouse gases lead to an increase in the average air temperature, and in this regard, in 2015, 197 countries signed the Paris Agreement on climate protection and undertook to combat global warming. It was found that five main points are proposed to combat global warming, which should have a significant impact on CO2 reduction in the future: abandoning coal and investing in renewable energy; transition of vehicles to alternative types of fuel; decarbonization of industrial production; increasing energy efficiency; provision of electricity to 3.5 billion people who are deprived of it at the moment. It has been proven that the consequences of the war in Ukraine will have a negative impact on the world economy and energy systems. The energy market around the world changed due to the war in Ukraine started by the Russian Federation on February 24, 2022, which led to the introduction of sanctions aimed at destroying the economy of the aggressor, in particular the energy sector. The maximum changes are taking place in Europe, since it is dependent on the supply of energy carriers of the aggressor country: oil, coal, natural gas and petroleum products. While the changes are not very noticeable, European countries, although they have announced a complete cessation of the supply of energy carriers, still continue to buy them.