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Abstract: The global economy has barely begun to recover from the effects of the COVID-19 pandemic, only to be thrown into a new crisis because of the Russian-Ukrainian war. The war exacerbated the energy problem by causing a shortage of energy supplies for the EU and other countries, affecting quality of life. As a result, establishing energy hubs for collecting, processing, storing, and transiting energy resources between producing and consuming countries has become imperative to manage energy supplies efficiently. However, previous studies have not yet addressed the requirements for setting up energy hubs from a practical point of view. Therefore, this paper investigates the requirements for the establishment of energy hubs, particularly for oil and gas, from a practical perspective. The researchers conducted 13 semi-structured interviews with different energy stakeholders. Using the SWOT analysis matrix tool, the findings assessed the current state of the global oil and gas market, and the main practical requirements for the establishment of energy hubs were identified, along with the elements for implementation. Furthermore, the article highlighted the most pressing practical issues confronting the establishment of energy centres. Finally, the paper laid out a comprehensive practical framework based on the industry practitioners’ views to help establish energy hubs. The framework provides a possible guide for countries to establish energy hubs based on the main requirements outlined in this study. It can also improve the diversity, flexibility, and security of energy supply, especially for countries that rely on sole suppliers, such as the EU.
Keywords: energy hubs, energy stakeholders, diversification of energy supplies, security and sustainability of energy supply, European Union countries, Russian-Ukrainian war
Published in DKUM: 19.04.2024; Views: 296; Downloads: 12
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Abstract: In this paper we explore the effects of a diagonal cumulation of origin as the EU's Common Commercial Policy (CCP) incentive mechanism that affects the intraregional trade and transaction cost structure of firms engaged in cross-border business operation. The research explores how firms should frame their cross-border physical flows of goods and the configuration of their value-adding processes for taking advantage of diagonal cumulation of origin. The empirical analysis is based on an in-depth case study of effects of the 'SAP+ diagonal cumulation of origin' on changes in the transaction cost structure of a selected Slovenian firm operating within the household-appliance sector in one of the Western Balkan Countries. Based on eligibility of local subsidiary for using origin of goods in its import/exporttransactions the cost calculations were made for its products and then three different business scenarios were developed for showing the effects of the mechanism on transaction cost changes of a firm. The paper concludes that, at the conceptual level, the mechanism of diagonal cumulation of origin may serve as an effective institutional cross-border trade-promoting tool.
Keywords: international business, institutional incentive mechanism, diagonal cumulation of origin, European Union, EU, transaction costs, Western Balkan Countries
Published in DKUM: 17.07.2017; Views: 1119; Downloads: 210
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