Pathways for achieving efficiency and sustainability of the energy sector: A case of Eurasian Economic Union

Abstract

The paper discusses pathways for enhancing the efficiency and sustainability of the energy sector within the Eurasian Economic Union (EAEU), which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. This region is characterized by a rich diversity of energy resources, ranging from Russia's vast fossil fuel reserves to Kyrgyzstan's significant hydropower potential. The study aims to explore how these nations can transition from reliance on traditional energy sources to more sustainable and energy-efficient practices. The research employs an analysis of energy policies, infrastructure, and technological advancements within the EAEU. Key findings indicate that while the region’s abundant resources present opportunities for economic growth, achieving sustainability will require significant policy reforms, technological innovations, and regional cooperation. The paper concludes that a balanced approach, integrating energy efficiency and renewable energy technologies, is essential for addressing environmental concerns and ensuring long-term energy security in the EAEU. This transition holds significance not only for the region but also for its contribution to global efforts in sustainable energy development.