The Geo-Economic and Geo-Energy Pillar of Power as a Geopolitical Decision Making Factor within the Dynamics of the Southeastern Europe Geopolitical Complex

Abstract

The “geopolitical complex” of Southeastern Europe, as a sub-system of the Europe-Asia-Middle East system, highlights its geo-economic dimension since the discovery of hydrocarbons in this geographical area has become a major geopolitical factor, resulting to competitions, conflicts, and strategic alliances among different actors/players. In this context, the particular space and time play an essential role, since the decision-making process has become a vital determinant of the necessary geostrategic synthesis under conditions of uncertainty and risk. This article approaches the subject under consideration by applying quantitative decision-making methods under uncertainty and/or limited uncertainty (risk) conditions by actors/players of the region; it examines the choice of alternative strategies that highlight not only the maximization of the actors’ geopolitical benefits but also provides added value to already formed strategic alliances. It also attempts to answer the question of how the construction of an LNG terminal can generate multiple benefits from its location and operation by presenting a theoretical model.