Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Advances in Economics, Management and Political Sciences
Series Vol. 76 , 18 April 2024
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The Impact of the Russia-Ukraine Conflict Situation on China’s Energy Industry
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Abstract
The Russia-Ukraine conflict has triggered a global energy crisis, which has brought extensive and profound impacts on China’s energy development. This paper analyzes the impact of the Russia-Ukraine conflict on China’s energy industry, discussing the changes in the international crude oil and natural gas markets, the global energy restructuring, and the acceleration of energy transformation. In response to the energy market volatility that may be brought about by the conflict, the paper proposes strategies for China to cope with it, including diversifying energy supply, strengthening geopolitical risk management, and building an energy community. In addition, the paper analyzes Russia’s position in the international energy market and focuses on the impact of China’s crude oil and natural gas import costs, the stability of the energy supply chain, and Sino-Russian energy cooperation and investment. Finally, the paper emphasizes the importance of accelerating energy green and low-carbon transformation and building energy communities, providing ideas for the sustainable development of China’s energy sector. This paper figures out that China’s energy industry should adopt a more flexible and resilient approach to respond to unforeseen circumstances such as the Russia-Ukraine conflict.
Keywords
Russia-Ukraine Conflict, Energy Industry, Transformation
References
1. Liu, Z. H., Yan, Z. P., & Hou, Y. (2022). The Impact and Enlightenment of the Russia-Ukraine Conflict on the World’s Energy Development. Global Energy Interconnection, 5(4), 309-317. https://doi.org/10.19705/j.cnki.issn2096-5125.2022.04.001
2. BP Amoco. (2021). BP Statistical Yearbook 2021. https://www.bp.com.cn/zh_cn/china/home/news/reports/statistical-review-2021.html
3. Knodt, M., & Kemmerzell, J. (2022). Handbook of Energy Governance in Europe. Springer International Publishing. https://doi.org/10.1007/978-3-030-43250-8
4. Sun, X. (2022, June 12). The Russia-Ukraine War and Changes in the International Energy Security Landscape. Institute of International Relations. https://iir.sass.org.cn/2022/0602/c443a452900/page.htm#:~:text=
5. Eliasson, B., & Lee, Y. Y. (Eds.). (2003). Integrated Assessment of Sustainable Energy Systems in China, The China Energy Technology Program. Springer Dordrecht. https://doi.org/10.1007/978-94-010-0153-3
6. Energy Policies of IEA Countries: The United States 2014. (2014). International Energy Agency. https://doi.org/10.1787/9789264211469-en
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 3rd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-83558-375-3
- ISBN (Online)
- 978-1-83558-376-0
- Published Date
- 18 April 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/76/20241878
- Copyright
- 18 April 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited