Energy Relocation in the Context of Change of International Economic Paradigm

21
DOI: 10.20542/0131-2227-2024-68-5-72-80
EDN: NGTWPI
E. Telegina, meb@gubkin.ru
Gubkin Russian State University of Oil and Gas (National Research University), 65, bldg. 1, Leninsky Prosp., 119991, Moscow, Russian Federation.
Gubkin Russian State University of Oil and Gas (National Research University), 65, bldg. 1, Leninsky Prosp., 119991, Moscow, Russian Federation.

Received 22.01.2024. Revised 26.02.2024. Accepted 07.03.2024.

Abstract. The authors propose the concept of energy relocation as a phenomenon of the 2020s, expressed in the form of a global sharp redirection of energy flows, collectively forming a circular movement of oil and gas resources from the West to the East, reflected by shocks in the energy markets. It is substantiated that its driver is a change in the global economic paradigm during the transition to a new multipolar system based on strategic alliances. In this regard, relocation is a reflection of the underlying processes of change in the world economy. Energy relocation was the result of an accumulated crisis that has developed successively since 2008. to 2023 in three stages, characterized as the Shale Revolution, “European displacement” and Russian “turn to the East”. The authors substantiate that, taken together, the three listed phenomena form a single process of energy relocation, because have a consistent logic and a single economic nature. Having become the result of a change in the international economic paradigm, energy relocation itself is shaping a new future of the world, in which the energy issue will remain dominant. Understanding this issue in the new system of strategic alliances is natural through the prism of the process of energy relocation. The authors propose a conceptual framework for such an understanding, and, accordingly, the possibility of moving to a new theoretical quality of forecasting the development of the world economy and energy.

Keywords: energy relocation, global economy, economic model, economic crisis, strategic alliances, BRICS, UN, oil, gas, Shale Revolution, turn to the East, USA, China, Russia


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For citation:
Telegina E., Morozov V. Energy Relocation in the Context of Change of International Economic Paradigm. World Eñonomy and International Relations, 2024, vol. 68, no. 5, pp. 72-80. https://doi.org/10.20542/0131-2227-2024-68-5-72-80 EDN: NGTWPI



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