The Energy Transition in Europe and MENA Countries: An Exploratory Analysis On the Main Energy Sources Demands and Supplies

The transition towards renewable energy is crucial for safeguarding planet Earth and slowing down global warming. Supranational institutions have intervened by issuing directives that provide for the reduction of CO2 emissions and encourage the consumption of renewable energy. The document examines the dynamics of global trade in the main fossil fuels and the consumption patterns of renewable energy sources, with specific attention to the shocks generated by international conflicts and their effect on prices. The study specifically looks at countries in the MENA region as major suppliers of fossil fuels and major European nations as major energy importers.