Some aspects of ensuring energy security in the BRICS countries

Abstract

The relationship between economic growth and dynamics of energy demand is essential both for the retrospective analysis of the global economy and for the long-term forecast of its development. The article examines the nature and direction of the relationship considering the diversity of economic systems in different regions of the world and the impact of the global crisis. Despite extensive studies of this relationship in the foreign literature, the results do not allow firm and indisputable conclusions. Based on the analysis of the BRICS countries experience in solving problems of the energy security, the authors show that the structural changes in the global economy, the new trends in the field of energy efficiency improvement, energy resources offers and prices on these resources necessitate regular revaluation of the relationship between economic growth and energy consumption.