Date – 02 / 04 / 2024

ENERGY SECURITY IN THE FRAMEWORK OF HUMAN SECURITY. OIL AND GAS IN THE NORTH ATLANTIC BASIN

By Macarena Larrea Basterra[1], Eloy Álvarez Pelegry[2] and Jaime Menéndez Sánchez[3]

Since the energy crises of the 1970s, the management by government authorities of the relation between energy needs and economic growth has been a priority. (Sodupe & Benito, 2018)

During the last century, the energy system has relied on fossil fuels. Today fossil fuels still represent more than 80% of total energy demand. Furthermore, their geographical distribution implies that the principal oil and gas production fields are not located in the same areas as the largest energy consumers. (Sodupe & Molina, 2018) Therefore, developed countries (mainly located in the Atlantic Basin) have suffered from a lack of energy sources, so energy security has become a priority for them.

Growing energy demand (both in developed and developing countries), which is shown in next table, has heightened concern about energy security, a concept that has broadened to include different elements of sustainability. (Keiji, n.d.) In this regard, however, between 1990 and 2015 more than 80% of the increase in global energy consumption occured in developing nations. (Sodupe & Molina, 2018) Today, the principal energy demand dynamics have turned to Asia and, as a consequence, the Atlantic Basin has lost some of its tradicional demand relevance.

This chapter focuses on energy security: it includes, first, a conceptual framework for the term and its relationship with human security. Given that, traditionally, the principal global energy flows have taken place within the North Atlantic Basin (NAB), there is then an analysis of energy security context across this territorial and maritime space, including the main policies adopted by the EU and the USA, both key players. The chapter ends with some considerations about energy security in the North Atlantic Basin.

[1] Deusto Business School, Universidad de Deusto, Av. de las Universidades, 24, 48007, Bilbao. 

Orkestra-Fundación Deusto, Av. de las Universidades, 24, 48007, Bilbao.

[2] Member of the Spanish Royal Academy of Engineering.

[3] Deusto Business School, Universidad de Deusto, Av. de las Universidades, 24, 48007, Bilbao. 

Orkestra-Fundación Deusto, Av. de las Universidades, 24, 48007, Bilbao.

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