REGULATION OF THE WORLD ENERGY MARKET: PRINCIPLES OF FORMATION AND REGULATION

Abstract

In general, the crisis in the energy sector that is taking place today is directly related to the investigation of energy pressure on Ukraine by Russia, which for decades has been using means for the implementation of energy policy as tools for various kinds of political pressure. In this regard, at the thematic summit held at the beginning and end of 2021, the EU confirmed a high degree of readiness for a phased abandonment of energy resources from the Russian Federation. As a result, as a result of forecasting, it is assumed that already in 2023, alternative energy sources will allow a significantly reduce the dependence of the EU energy sector on Russian natural gas. A substantial restructuring of the energy market today especially jeopardizes the regulatory processes implemented in the practical part until today. It is not a secret that modern changes in various technological processes based on global network-related energy connections actualize the problem of expanding the energy market. Therefore, all these mentioned aspects significantly influence the process of understanding a new practical and theoretical approach to the essential indicator of the "world energy market,", especially from the point of view of its reflection of increasing homogeneity and homogeneity. First, the density of energy flows, transit, and logistic connections forms a position for understanding the unity of the world energy market, its boundlessness, and spaciousness. At the same time, given the independence of each state that is part of the specified market, there is a need for a mental understanding of the principles, norms, standards, and instruments of its regulation. This and other related questions were the basis for a scientific solution to today's significant problem. It is also worth noting that the mechanism of law of the world energy market is nevertheless influenced by the activities of the organizations, as mentioned earlier. Still, the energy pressure from Russia constantly poses new challenges, which in their content involve changes in the activities of the institutions, as mentioned earlier, and the states within which they operate, regarding the formation of a new policy for the regulation of the global energy market under these circumstances. Under these conditions, the EU seeks to ratify a political agreement on the voluntary reduction of consumer demand for natural gas by EU countries in the winter of 2023 to save and increase energy efficiency. The main principles of regulation of the global energy market should be continuity of supplies and purchases of energy products of traditional and non-traditional origin; avoidance and prevention of threats to extraction, storage, and transfer of energy carriers; achieving a balance between the interested parties of this market and ensuring its competitiveness; ensuring rational, ecologically clean and safe energy consumption. Keywords: energy market, global energy, energy market formation, energy market regulation, alternative energy sources.