ANALYZING THE RECENT DEVELOPMENTS IN THE GLOBAL NATURAL GAS MARKET

Abstract

This study investigates the relationship between global natural gas market developments and domestic energy outcomes in Uzbekistan over the period 1995–2024. The increasing globalization of energy markets—driven by LNG trade expansion, price volatility, and geopolitical tensions—has intensified the transmission of external shocks to developing economies.Using a time-series econometric approach based on data from the World Bank, International Energy Agency, and International Monetary Fund, the study analyzes how global factors are associated with domestic natural gas consumption. The findings indicate that economic growth and global market expansion are positively associated with energy demand, while rising gas prices and geopolitical instability are negatively related to consumption.The results highlight that Uzbekistan’s energy system, despite its reliance on domestic gas production, is increasingly exposed to global market dynamics. In particular, growing domestic demand and seasonal supply pressures reinforce the importance of effective energy management.These findings underscore the need for policies focused on improving supply efficiency, strengthening infrastructure, and enhancing regional cooperation. Overall, the study provides valuable insights into the interaction between global energy markets and domestic demand in transition economies, with important implications for energy security and sustainable development.