Regional Energy Policies, Trade and Energy Security in South Asia

Abstract

The energy-deficit South Asia is striving to secure primary energy supply for growing demand. However, dependence on fossil fuels, the variable endowment of resources, geological scenarios, climate change, ineffective policies, and regulatory mechanisms are jeopardizing regional energy and environmental security. Energy trade esteems to reduce the cost and emissions of greenhouse gases; secure sustainable energy supply for economic development and functional aspects of the cooperation. This chapter provides an analysis of energy policies of countries in South Asia based on the Simple Multi-attribute Rating Technique and Multi-Criteria Decision Analysis on 28 technical, economic, social, environmental, and political criteria in the context of regional energy trade for energy security and sustainable development. The results of the analysis not only comprehend feeble coherence among energy policies of individual countries in the region but also with requirements of trade and regional environmental sustainability. Although, the geopolitical situation is critical for economic development and poverty reduction in South Asia due to regional disputes. However, the region is looking for negotiation and diplomacy for dispute settlement and harmonizing energy policies with energy trade requirements for long-term regional energy and environmental security.