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Measuring Energy Security : Trends in the Diversification of Oil and Natural Gas Supplies

Author/Editor: Prakash Loungani | Frederick L. Joutz | Gail Cohen
Authorized for Distribution: February 1, 2011
Electronic Access: Free Full Text (PDF file size is 842KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a whole, there has not been much change in diversification in oil supplies over the last decade, but diversification in sources of natural gas supplies has increased steadily. We document the cross-country heterogeneity in the extent of diversification. We also show how the extent of diversification changes if account is taken of the political risk attached to suppliers; the size of the importing country; and transportation risk.
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Series: Working Paper No. 11/39
Frequency: Biannually
Subject(s): Natural gas | Oil | Risk management | Supply elasticity
Author's keyword(s): Energy Security; Energy Independence; Diversification; OECD Energy Use
    Published:   February 1, 2011        
    ISBN/ISSN:   9781455217878/1018-5941   Format:   Paper
    Stock No:   WPIEA2011039   Pages:   40
    Price:   US$18.00
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