Risk and Uncertainty in the Changing Global Energy Market

*The first joined-up approach to international energy policy *Essential for all in energy industry, academics and policy-makers *Particularly relevant at a time of great oil-price volatility The complex dynamics of the world energy market make it virtually impossible to map clearly the contours of the emerging global scenario. However, realistic trend evaluation, risk assessment, change management strategies and provision for eventualities are imperatives for all states, organizations and companies that have a stake in the energy industry. Uncertainties may originate from many quarters: geopolitical factors, market forces, energy security issues or environmental and safety concerns. These risk factors require detailed analysis - and this book sets out to provide the guidelines and structures that are required. It covers issues such as geopolitical and military risk; supply disruptions; accidents and contingencies; infrastructure constraints; price fluctuations; market uncertainties; and technical challenges. It also examines the steps that both energy producers and consumers alike can take to minimize risk through essential measures like energy supply diversification; import reduction; regional co-operation; energy efficiency and conservation; pricing strategies; and strategic oil stockpiling.