ALIGNING ECONOMIC SECURITY AND CLEAN ENERGY TRANSITION: THE WESTERN BALKANS IN THE CONTEXT OF THE EU’S GAS DIRECTIVES
ALIGNING ECONOMIC SECURITY AND CLEAN ENERGY TRANSITION: THE WESTERN BALKANS IN THE CONTEXT OF THE EU’S GAS DIRECTIVES
Author(s): Marta VejseliSubject(s): Economy, Energy and Environmental Studies, Green Transformation
Published by: Scientific Institute of Management and Knowledge
Keywords: FDI;West Balkans;low carbon energy sources;European Green Deal;EU Gas Directives;renewable energy sources
Summary/Abstract: The European Union (EU) is actively aiming a transition to clean energy as part of its Green Deal strategy (European Commission, 2019), which aims for climate neutrality by 2050. This shift involves moving away from traditional fossil fuels such as coal, petroleum and natural gas, towards renewable energy sources (e.g., sunlight, wind, geothermal heat, or flowing water), and law carbon energy sources, such as hydrogen and biomethane. While the EU’s efforts focus on achieving sustainability, its strategy also prioritizes energy security. The Western Balkans, heavily reliant on imported natural gas, face unique challenges and opportunities in aligning with the EU's energy policies, particularly the recently updated gas directives. This paper examines the legal and economic implications of these directives for the Western Balkans, particularly in the context of economic security. It highlights the role of Foreign Direct Investment (FDI) in driving the transition to clean energy and explores how aligning with EU standards can attract critical investment to develop hydrogen ready infrastructure. The paper also discusses the legal frameworks governing energy supply chain security and the implications for regional integration. By addressing these issues, the paper aims to provide a roadmap for harmonizing economic security with the clean energy transition in this strategically important region.
Journal: Knowledge - International Journal
- Issue Year: 67/2024
- Issue No: 6
- Page Range: 935-939
- Page Count: 5
- Language: English