GLOBAL ENERGY MARKET SUSTAINABILITY: MODERN CHALLENGES IN SCOPE OF UKRAINIAN CONTEXT

Abstract

The paper addresses the issue of sustainable development and the long-term efficiency of the energy market, taking into account modern geopolitical threats. Energy, and electricity in particular, are regarded as major prerequisites for open and non-open conflicts between countries on the global stage. Furthermore, an energy deficit is considered to give some countries a huge strategic advantage over others. The natural potential and generating capacities of key energy market actors all over the world constitute an enormous political advantage. The use of innovative technologies, such as 3D printing, could transform cargo transportation by reducing the volume of physical transportation, opening avenues for optimising transport infrastructure and reducing logistics costs. This would be essential for the stable provision of export and import operations in the future. The energy dominance of certain regions has been demonstrated to engender hitherto unparalleled market advantages, compelling other countries to establish bespoke transition collaboration schemes with a view to differentiating various markets and functional processes. In the context of intergovernmental collaboration and net-zero initiatives, the trajectory of global development is inextricably linked to the effective management of natural resources and the attainment of comprehensive energy efficiency, facilitated by technological advancements and the objectives of coalition partners. The present study is founded upon a comprehensive methodological framework. In order to comprehensively explore the scientific aspects of the issues addressed in this research, a range of explanatory research methods were employed. Firstly, a comparative analysis will be conducted to identify both the similarities and the differences between the extant energy sector models in Ukraine and in other countries. Secondly, the historical method is employed to summarise the key prerequisites of various scientific paradigms and to assess potential development risks. The primary research method employed is secondary data analysis, which is based on an in-depth evaluation of global energy data. A comprehensive overview of the current peculiarities of the global energy market in the context of various sectors was conducted by means of extensive secondary data analysis. The aim of this analysis was to highlight the major daunting tasks in the geopolitical arena based on irreversible shifts caused by the Ukrainian context. Moreover, in order to generate reliable forecasts for Ukraine's electricity production up to 2030, a mathematical extrapolation method was applied in order to develop a probable scenario. In light of the findings from contemporary research and empirical studies, which have employed a systemic analytical approach, a plethora of pragmatic policy-altering measures are put forward. It is anticipated that a sophisticated development strategy for the energy market will serve as a pivotal catalyst for sustainability and mutually beneficial international collaboration. In the long term, the key milestones of global sustainability within markets will be energy safety and multi-stakeholder dialogue.