Continuity of power supply is a necessary prerequisite for modern society to exist and continue to flourish. The availability and ability to purchase energy at reasonable and acceptable costs are also critical. This is especially true in post-industrial countries. Where power is critical to the manufacturing, communication, and trading processes. Energy security, as a guarantee of supply, is commonly characterized as the energy system’s resistance to exceptional. And unanticipated occurrences that could jeopardize. The physical integrity of energy flow or cause an uncontrollable rise in its cost, regardless of economic factors.
As a result, it is a part of the national security system, because reliable and consistent access to energy sources at affordable prices is a necessary component of any contemporary economy.
Energy security, in a broader sense, is a state of the economy in which the current and future demand for fuels and energy is met in a technically and economically sound manner.
The global need for energy is continually increasing, and ensuring a steady supply is becoming increasingly crucial in fast-growing countries.
Energy must be readily available and inexpensive, and the supply chain must be robust to both short- and long-term disturbances, in order to maintain existing levels of production and provide circumstances for future economic growth.
Energy supply disruptions can result in severe financial losses and instability in economic centers. They have the potential to harm society’s health and well-being.
The security of energy supply is determined by a number of elements, the most important of which are as follows:
(diversification) of generating capabilities – sustainable and well-balanced energy production systems, which include a variety of electricity generation technologies as well as adequate generating capacity, allow for the most efficient use of each technology’s advantages. Furthermore, they allow for the maintenance of reasonable costs and the continuity of energy delivery to consumers.
The cost of producing, transmitting, and distributing energy to the customer is a derivative of the expenses of producing, transmitting, and distributing it.
Supply network disruptions can have a negative impact on prices and cause economic challenges for countries that are overly reliant on a single source of supply. Inflation and recession can be triggered by continued growth and short-term surges in oil, gas, and power prices.
Investment Level Required
Significant investments (production, transmission) are required to fulfill the predicted rise in energy consumption.
Because energy must be accessible on-demand, the convenience and security with which fuel and power are transported is a critical aspect in ensuring energy security.
Dependence on a small number of imported gasoline suppliers may increase the possibility of a negative impact on the gasoline market. Where suppliers are supplied from politically unstable countries, there may be an increased risk of supply disruptions.
Diverse fuel consumption could be a key component in boosting energy security. Conversion (conversion) of fuels like coal into gas, gas into liquid fuel. And coal gasification help meet demand even when conventional fuel supplies are disrupted.
Because their distribution is dependent on the fluctuation and vagaries of geology and climate. The geopolitical risk usually applies to primary energy carriers (oil, gas, coal, uranium, or renewable sources). As a result, energy production and consumption are frequently separated geographically. And take place in countries and areas with diverse histories, cultures, and value systems.
Except for exploration and production, the rest of the energy supply chain, including purification or enrichment, conversion, and distribution, can and should be physically closer to, or under the direct control of, the final client.