Energising the New Silk Routes: Globalising of the Energy Markets is Remaking the World

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The modern international energy market’s tendency, trends and trajectory of supply and demand reflect a globalisation that is characterised not only by interdependence and synergy of interest between consumers and producers, but is also critically influenced by the impact of technology on the very composition of the energy basket.

The centrality of single fuel is losing favour to a multiple fuels energy regime, even as an oligopolistic market power is being diffused by the emergence of many sources of supplies and the rise of new consumers. The integrated market for hydrocarbon in particular is contesting older concepts of territoriality. As a region becomes part of the global scenario, it is the latter that is going to define the text of the new geopolitics of energy. This does not mean that the region will not spill over to the global, but it does underline the fact that the primacy of the region in the globalising energy market is going to be determined by its strategic location in the international network of energy relationships, rather than by territoriality alone. Thus, to be a smart player in the energy market, positioning in the globalising energy network becomes critical. Central Asia is a reflection of the geopolitical implications of the emerging tendencies and the trends of the new global market.

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