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Economics of Sustainable Development
2017, vol. 1, iss. 2, pp. 121-130
article language: Serbian
document type: Scientific Paper
published on: 10/10/2019
Energy security: How to define and quantify it?
aEconomics Institute, Belgrade + University Singidunum, Belgrade
bEducons University, Sremska Kamenica



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Although the issue of energy security is highly positioned on the scale of priorities of each country, for now there is no commonly accepted definition of energy security. The definitions of energy security can be divided into two groups. The first group consists of definitions that are focused on short-term approach where the focus is on energy supply. The second group is characterized by longterm approach, this type of definitions take a broader aspects of energy security as well as economic indicators and environmental indicators. Although there are a number of definitions and different approaches to energy security, the interest for methodology of calculation of energy security is not so large. Existing methods for quantitative expression level of energy security, in most cases are based on short-term approach, while methods based on the wider concept are mostly the composite indices that include a large number of individual indicators. In this way enable a more comprehensive approach, but practically speaking there are limits to measure because the big problem is the availability of data.