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Revealing the evolution of global energy trade patterns amidst the COVID-19 epicenter storm.

Authors :
Liu, Yu-Qi
Wen, Shou-Xun
Li, Jun
Yang, Jun
Cheng, Xi
Feng, Chao
Guo, Li-Yang
Source :
Energy Strategy Reviews; May2024, Vol. 53, pN.PAG-N.PAG, 1p
Publication Year :
2024

Abstract

As the driving force of modern economic development, the evolution of the global energy patterns during major emergencies deserves attention. This study aims to uncover changes in global energy patterns during the COVID-19 epicenter storm. The results reveal concentrated energy trade volume in a few flows, with high-income countries holding greater influence. Amid the epicenter storm, there was a contraction in global energy trade volume, and trading patterns underwent significant shifts: (1) the global natural gas trading center shifted from the Middle East to western Africa initially, then to the United States and Russia; (2) Brazil, a crucial crude oil exporter, saw a weakened position in global crude oil exports; and (3) in the coal trading network, Australia and Russia maintained their position as trading centers throughout the storm. Swift policy adaptation is crucial for resilience and stability amid evolving global energy patterns. • We focused on the energy trade patterns during the COVID-19 epicenter storm. • This study uses complex network analysis and monthly energy trade data. • Global trade volume of energy experienced a contraction during the epicenter storm. • Natural gas trading centers shifted from the Middle East to western Africa and then turned to the United States and Russia. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
2211467X
Volume :
53
Database :
Complementary Index
Journal :
Energy Strategy Reviews
Publication Type :
Academic Journal
Accession number :
177600643
Full Text :
https://doi.org/10.1016/j.esr.2024.101367