Globalization of Energy Markets: Prospects of Energy Integration in East Asia

Abstract

The economic integration is a widely known and widespread process in the global economy. Integration in energy sphere is quite a new process which only nowadays is becoming achievable through both coordination of energy policies between certain countries and highly advanced energy technologies. The article is devoted to the urgent issues of energy integration developments in East Asia. It uses the representative selection of the following countries: Japan, China, South Korea, and ten ASEAN member states. Special attention is given to intergovernmental initiatives on energy ties development. Basing on the conducted analysis an attempt to estimate prospects of energy integration between the ASEAN member states and further involvement of Japan, China, and South Korea in this process is made.