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Objectives Of Global Energy Governance

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I. Introduction:

Energy is a global matter and energy policy is at focus of some of the hardest challenges that the world encounter. National governments play the main role in energy governance, the challenges fronting policy makers are beyond the range of any sole national government to succeed, making energy policy a key component of global governance and international relations. The global energy landscape has transformed radically in recent decades. The instability of energy markets is a distinct worry for both developed countries and those countries facing rapid economic growth.

II. Objectives of global energy governance:

Markets necessitate governance appliances that can impose contracts, define and apply property rights, control …show more content…

Oil, gas and their renewable counterparts need to be considered as commodities. Even though they are often highly politicized, the exploration, trading and consumption of these commodities is predominantly organized by private actors that interact with one another through market-based transactions. It is companies that are drilling, buying and selling oil and gas and it is not governments that decide on allocation of capital, technology and manpower, but primarily markets. In the case of oil, these markets are truly global; in the case of natural gas, they remain regional but still international in nature. The institutions organising energy markets are very political since they are created by governments; states are vital in determining whether energy is provided by the market at required quantities and reasonable prices, also whether investment is secure and capital is apportioned …show more content…

Its governance role spreads to major international energy markets for trade in energy products, trade in energy services, energy, property rights and other aspects of technical support mechanisms.

2- UN agencies:

The United Nations Development Program (UNDP), the Food and Agriculture Organization (FAO), the Industrial Development Organization (UNIDO) and the Environmental Project (UNEP) play important roles in energy governance

3- The International Energy Agency:

Founded as a reaction to the threat of Arab oil ban, it is the most significant and powerful form for international energy cooperation.

4- The G20:

The Group of Twenty includes both developing and developed countries on an equal basis and is one of the most representative organization. It is mainly focused on economic and financial issues.

5- The International Energy Forum (IEF):

The International Energy Forum (IEF) is the largest gathering of Energy Ministers from around the world. It includes producing, consuming, and transit nations, whether developed or

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