Comparative Analysis of EU Member Countries Vulnerability in Oil and Gas

Abstract

The aim of this article is the comparative analysis of oil and gas supply for the 27 European Union member countries throughout the measurement of the vulnerability that their economies exhibit to oil and natural gas. In this framework, 6 indicators that quantify the core concepts that affect the security of supply of a country have been integrated, with the usage of Principal Component Analysis, in two synthetic indices, which measure the vulnerability of the case study countries.

Keywords:

• energy security indices
• energy supply security
• energy vulnerability
• oil and gas
• principal components analysis