Role of the USA in supporting energy security in Europe

Yuliia Malohulko

Role of the USA in supporting energy security in Europe

Yuliia Malohulko

Abstract

The relevance of studying the role of the USA in supporting energy security in Europe was due to the escalation of geopolitical risks and the need for the transformation of energy systems in European countries in the context of Rus- sian aggression. The purpose of the study was to analyse the efforts of the USA to strengthen Europe’s energy resilience through the diversification of energy supply sources and the expansion of alternative energy supply routes. The study involved the analysis of regulatory acts, statistical analysis of energy trade data, and a structural-functional analysis of the energy security of the European Union as an integrated system. The main results of the study demonstrated that the Unit- ed States of America plays a decisive role in ensuring the energy security of European countries by significantly increasing the export of crude oil and liquefied natural gas to European markets, as well as providing significant political and diplo- matic support to efforts aimed at diversifying energy supply sources. Analysis shows that American energy supplies have significantly contributed to reducing the dependence of European countries on traditional suppliers, particularly Russia. Despite significant achievements in the process of replacing Russian-origin energy carriers with alternative supplies from the United States, there are certain challenges and obstacles that require further resolution. Among them, it is worth not- ing the relatively higher cost of American energy resources, the insufficient level of development of the corresponding in- frastructure for receiving, storing, and distributing imported energy carriers in some European Union member states, and the potential decrease in the need for fossil fuel imports in the long term due to the active transition to renewable energy sources and the implementation of ambitious climate goals. The study also revealed the need to align the energy policies of the United States of America and the European Union, considering the long-term goals of decarbonising the economy and sustainable development. The practical significance of the study lies in the development of recommendations for further strengthening the transatlantic energy partnership, taking into account the need to balance energy security and economic decarbonisation goals

Keywords

transatlantic partnership; oil market; geopolitical risks; alternative energy sources; sustainable development; climate goals

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Suggested citation

Malohulko, Yu. (2024). Role of the USA in supporting energy security in Europe. Foreign Affairs, 34(3), 88-98. https://doi.org/10.46493/2663-2675.34(3).2024.88