Review of energy security at global level with special reference to the republic of serbia (Economic and legal aspects)

Abstract

© 2017, Scibulcom Ltd. All rights reserved. Although the modern world uses common and simplified definition of energy security in the context of the availability of energy resources in sufficient quantities and at affordable prices, stability of supply, as well as physical safety of gas and oil pipelines, many countries and organisations interpret this concept in different ways, approaching this term from various aspects. All the more, as global problems related to energy and security challenges, risks and threats the world is facing today as well as in the unforeseen future, can not be viewed in a partial but in a versatile way. It is clear that energy security has a multifaceted character because all modern and developed economies of the world depend on the continuous and planned energy supply. Therefore, the energy sector is a fertile ground for a variety of negative impacts, which implies significant consequences not only in the field of energy security but also the overall economic stability of certain countries. Therefore, rightly argues that those countries which managed to protect the environment, economic growth, and regular energy supply can be rightly considered safe energy states. Given the above, it is a completely justified view that the process of European integration of Serbia in the field of energy is essentially the most important process.