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Abstract
Energy is critical, directly or indirectly, in the entire process of evolution, growth and survival of all living beings and plays a vital role in the socio-economic development and human welfare of a country. It is seen as a 'strategic commodity' and any uncertainty about its adequate availability can threaten normal functioning of an economy, predominantly those which are developing. Realizing the energy security in its strategic sense, is of fundamental importance not only to economic growth but also for the human development objectives that aims at the alleviation of poverty, unemployment and meeting the Millennium Development Goals (MDGs). Thus, energy is thought 'the lifeblood of modern economies' as there exists a strong link between the energy consumption and economic growth. Central Asian countries comprising Kazakhstan, Turkmenistan, Uzbekistan, Kyrgyzstan and Tajikistan are among those countries which are blessed with significant energy resources. In view of their existing potential, the harnessing of energy wealth in these Central Asian countries will not only fulfill their domestic demand but also leave a large share for export. In order to sustain the long run growth, the Central Asian Countries known for inefficient energy consumption pattern have to bring efficiency and spend judiciously the earnings realized through surplus energy exports. For maintaining and enhancing energy exports, they should also invest in areas of renewable energy like solar and wind. Importantly, in view the vital and crucial role of energy in the process of economic growth, and the link between energy consumption and real output for five Central Asian countries suggests that inefficient energy consumption pattern, if continues, may negatively effects their economic growth which eventually would results a fall in income and employment. Thus, according to the results, Central Asian countries would be in large profit by adopting energy conservation policy to avoid any kind of energy shortages. In this backdrop, the present study has been undertaken to study the energy consumption pattern of Central Asian countries and suggest for the pattern, which is efficient and sustainable. However, the study is delimited to hydrocarbon and hydropower of five Central Asian States.
Keywords
Energy Conversation, Energy Consumption, Energy Supply and Demand, Economic Growth, Labour, Capital, Land, Strategic Commodity, Central Asian States, Hydrocarbon, Hydropower.
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Introduction