Prospects of energy cooperation between the Russian Federation and the Republic of Korea in the context of establishing of the Asian Super Grid

Abstract

The article presents the results of comparative analysis of energy sector reforms undertaken in Russia and South Korea in the 2000s that are aimed at decentralizing their energy sectors, previously dominated by one state-owned energy company. The article demonstrates that although the energy sector reforms in both nations took place simultaneously and with similar aims, Russia completed its reform, while Korea abandoned decentralization midway. Research behind this article compares the outcomes of the energy sector reforms from two perspectives. First, it compares the outcomes of the reforms from the viewpoint of their contribution to an increase in the share of electricity produced from renewable energy sources in national energy balances. Second, it compares the outcomes of the reforms from the viewpoint of their compatibility with integration of the energy systems into wider networks, using the Asian Super Grid and Inter-Korean Connector as examples. It appeared that despite Russia ha- ving completed its reform, while Korea abandoned it halfway, both countries made significant progress in terms of increasing energy production from renewable sources. At the same time, Russia, thanks to its ability to complete the reform, is better prepared to integrate its energy system into wider networks. The article concludes that Korea’s unpreparedness to incorporate its energy system into wider networks creates an obstacle to the country’s further progress towards a greater share of electricity produced from renewable energy sources in the nation’s energy balance.