The impact of COVID-19 on global energy security and energy geopolitics

Abstract

The outbreak of the COVID-19 pandemic in late 2019 has caused significant disruptions across multiple sectors worldwide including the energy sector. The pandemic triggered a decline in energy demand and this led to a turbulence in consumption, production, and investment planning in the energy sector. Even the effects of the COVID-19 started to decrease, the turbulence supported by the aftermath developments exposed vulnerabilities in the energy supply chain and raised concerns about energy security. This paper examines the impact of the COVID-19 pandemic on global energy security and the potential effects on energy supply security and energy geopolitics, taking into consideration global challenges like the ongoing Russia-Ukraine war and climate change. In this regard, the study asserts that the significance of energy geopolitics will persist worldwide in the future, irrespective of the green energy transition. While energy supply security conventionally remains a paramount concern for countries, whether they are producers or reliant on energy imports, the study also posits that the transition to green energy is shaping its own geopolitical importance.