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World Market of Synthetic Liquid Fuels: The Features and Development Prospects
Kyzym M. O., Khaustova V. Y., Shpilevskiy V. V.

Kyzym, Mykola O., Khaustova, Viktoriia Ye., and Shpilevskiy, Volodymyr V. (2022) “World Market of Synthetic Liquid Fuels: The Features and Development Prospects.” Business Inform 12:164–172.
https://doi.org/10.32983/2222-4459-2022-12-164-172

Section: Industrial Economics

UDC 338.12.017:662.75

Abstract:
The production of and trade with synthetic liquid fuels (SLF) is an integral part of the global market. The issues of energy security and energy independence have especially acutely raised before the countries of the world in the light of today’s conditions. They are especially important for Ukraine, which has suffered enormous damage as a result of full-scale military aggression of the russian federation. Positive experience in the development of SLF production in the countries of the world and global trends prove the relevance of further study of this problem in order to identify opportunities and ways to meet domestic needs for liquid fuels on this basis. The purpose of the presented research is to determine the features and prospects for the development of the global SLF market. The article analyzes the raw materials-based and regional features of the development of the SLF market, as well as the main technologies of its production and the main manufacturers. It is determined that the development of world production of SLF today takes place in two different (alternative) directions, which are determined not only by the use of different resource bases, but also by production goals, i. e.: the production of SLF based on the use of GTL technologies in order to expand the commodity (including the export) nomenclature of hydrocarbons produced in the country; production of SLF based on the use of СTL technologies to cover the shortage of liquid hydrocarbons in the country. It is proved that the growth factors of the SLF market, including: the unstable situation in the crude oil market; political uncertainty in the world and dependence on oil supplier countries, which does not ensure the energy security of consumer countries; the environmental friendliness of the SLF and the desire of governments to achieve the zero emissions target by 2050, etc., suggest an even stronger growth in the synthetic fuel market than predicted, since the issues of energy security and energy independence in the context of the military aggression of the russian federation against Ukraine have come to the fore in many countries of the world, which will intensify the acquisition of other sources of fuel production in particular.

Keywords: synthetic liquid fuel, motor fuel, alternative fuel, world market, energy security, fuel security, energy independence, GTL technologies, СTL technologies, market conjuncture, production capacities.

Fig.: 2. Tabl.: 4. Bibl.: 26.

Kyzym Mykola O. – Doctor of Sciences (Economics), Professor, Corresponding Member of NAS of Ukraine, Head of Department, Department of Human Development Research, Institute of Demography and Quality of Life Problems of the National Academy of Sciences of Ukraine (60 Tarasa Shevchenka Blvd, Kyiv, 01032, Ukraine)
Email: [email protected]
Khaustova Viktoriia Ye. – Doctor of Sciences (Economics), Professor, Director, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkiv, 61166, Ukraine)
Email: [email protected]
Shpilevskiy Volodymyr V. – Candidate of Sciences (Economics), Head of Department, Department of Industrial Policy and Energy Security, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkiv, 61166, Ukraine)
Email: [email protected]

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