ASEAN STRATEGY IN THE WORLD ENERGY MARKET IN THE CONDITIONS OF ITS TRANSFORMATION

Abstract

The subject of the study is the strategy of the regional integration group ASEAN in the global energy market in terms of its transformation. Goal. The aim of the article is to study the strategy of the regional integration group ASEAN in the world energy market in terms of its transformation and to identify its features. Methodology (method). The study is based on theories of international trade and international economic integration. The main methods were induction and deduction, generalization, statistical, comparative and system-structural analysis, grouping. Results. A study of the energy profiles of ASEAN countries on their involvement in the global energy market in terms of its transformation at the present stage of globalization. The growth of integration into the world energy market due to the growth of demand for energy resources from national economies (reduction of exports of certain types of fuel resources, growth of imports of others, attraction of foreign investments in the development of RES); increasing the share of RES in the energy balances of countries; change in the structure of energy balances due to the requirements of sustainable development, including environmental and social (access to energy resources). Conclusions. Significant differentiation of ASEAN member countries in terms of economic development, formation of market institutions, provision of energy resources and needs, which leads to different degrees of their integration into the world energy market and differences in the goals of national energy strategies. The analysis of energy profiles of ASEAN member countries and their involvement in the processes on the world energy market allowed to reveal: dependence of foreign trade in fossil energy resources; strong intra-regional orientation of foreign trade in fuel and energy resources; insufficient investment for the introduction of modern technologies; inconsistency of the structure of energy balances of most ASEAN countries with structural changes in the world energy market. Cooperation with energy TNCs contributes to the acquisition of new technologies for exploration, production and processing of fossil energy resources, as well as the development of RES and modernization of energy systems. The implementation of the ASEAN Energy Cooperation Action Plan (APAEC) is seen as a mechanism for aligning the ASEAN energy profile with the areas of transformation of the global energy market. Strengthening supranational coordination and cooperation in the energy sector creates the preconditions for countries to achieve national interests, energy security and sustainable development.