PANEL DISCUSSION 1. “Political Risks for Global Energy Markets“

The years 2022–23 became a period of another dramatic shock for the world economy, especially affecting the global energy sector. Following the 2020–2021 pandemic, which caused lockdowns, massive reduction in travel, and a sharp drop in fossil fuels demand, leading to negative peak oil prices, political events of the last year shook the energy market once again. The rise of gas prices in Europe above the level of $3,000 per 1,000 cubic meters as a result of the sanctions and reduction of Russian gas supplies to the European market, as well as the introduction of a price ceiling for Russian oil supplies, forced all energy market players to reconsider their strategies and quickly change their usual development guidelines. Such shocks not only destroy sustainable development dynamics but also give new impetus to those companies seeking to establish themselves in perspective areas and occupy new market niches with high growth potential. Challenges and opportunities in a turbulent environment raise the succes