BILATERAL TRADE AND ENERGY RELATIONS BETWEEN THE EU AND THE COUNTRIES OF THE CASPIAN SEA REGION

Autor:	Evangelos Siskos, Konstantia Darvidou
Rok vydání:	2020
Předmět:	International relations business.industry Energy (esotericism) 05 social sciences Energy security International trade Bilateral trade Gravity model of trade 0502 economics and business media_common.cataloged_instance 050211 marketing Business European union 050203 business & management media_common
Zdroj:	Vol 19, No 1 (2020). :47-64
ISSN:	2519-4089 2519-4070
Popis:	The European Union and the Caspian countries are important trade partners, although there is still potential for improvement of the cooperation considering the energy security and other issues. The paper analyses trends and structure of trade relations of the EU and Caspian countries. The trade between the regions is about 370 billion dollars. Exports of fuels to the EU are the main component of the trade between the regions. Therefore energy transportation projects are an important issue in the agenda for the international relations. A gravity model for the exports of fuels is presented. The model considers demand in the EU importing country, total fuel exports of an exporting Caspian country as an indicator of exporting supply capacities and in some cases energy self-sufficiency of an importing country. Distance turned out to make an insignificant effect on the energy trade. The analysis helps to determine undertraded and successfully exploited bilateral energy trade links between the individual EU and Caspian countries. The model showed that Greece is among the most relatively intensive importers of fuels from the Caspian region. JEL: F10, F13, F15, Q4.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::5924ccb113b1645cd9cff7a1029c52a7 https://doi.org/10.35774/jee2020.01.047 Zobrazit plný text záznamu