The importance of Energy Security. The role of Western Balkans in the security of energy supply.

Abstract

The security of energy supply in South Eastern Europe (SEE) and especially in the region of Western Balkans is discussed in this paper. Since the Soviet Union collapsed a new reality emerged in SEE including politics and economy changes that affected energy policy. Now that the Soviet Union is no longer present new players appeared in the energy map of SEE while markets are under transformation. New opportunities are created including challenges even for the small Western Balkan countries. This paper presents how the region of Western Balkans is responding to the new chances in the field of energy, regarding oil and natural gas use and transportation. Furthermore, the position of Western Balkans in the energy map of SEE will be examined along with the energy security of the region in question and how this affects Europe. The energy resources of Asia and their export in the markets of Europe and West in general, is an issue that has always been in the list of priorities of the Western countries. The creation of new independent states after the dissolution of USSR brought up the question of the exploitation of the energy supplies of the Caspian Sea. This new reality posed serious questions about the control of these energy sources and the energy roads to the West. The answer to the posed questions lies on the policies and diplomacy of the countries involved, on the major oil companies, on the international financial institutions and especially on the regional players of the Black Sea and the Caspian. In this paper, the importance of the access to energy resources and the formation of energy security as a policy will also be discussed.