Institutions of international energy cooperation in North-East Asia region

Abstract

The article deals with the problems of international energy cooperation (IEC) development in North-East Asia region (NEA). There is a process of gradual formation of common regional energy markets, which requires the improvement of international cooperation institutions. At the moment this process is in early stage, but the experience of such integration structures as the European Union and NAFTA (North American Free Trade Agreement) demonstrates that energy cooperation can be effective and beneficial to all participants. The countries of NorthEast Asia need to develop international electricity grids and natiral gas pipelines, which stimulates the evolution of common energy markets institutions with the active participation of both government bodies and private energy companies. Keywords: energy cooperation, energy policy, institutions, North-East Asia region.