Streamlining Energy Project Approvals: The Role of Regulatory Efficiency in Advancing Energy Security and Economic Development, 2023

Energy project approvals are very important to ensuring timely development, operational efficiency, and the delivery of energy security and economic benefits. However, regulatory inefficiencies, delays in bureaucratic processes, and fragmented approval processes often slow down project implementation, increase costs, and discourage investment. This review examines the importance of regulatory efficiency in the energy sector, analyze global best practices, and highlight lessons from developed and emerging economies. Also, it emphasizes how streamlined processes, inter-agency coordination, digital permitting systems, and stakeholder engagement can speed-up energy project development, while promoting transparency, environmental compliance, and socio-economic growth. Therefore, the present review recommends policymakers to balance efficiency with accountability, as well as provide actionable insights relevant to both developed and developing nations.

Energy security, regulatory efficiency, project approvals, economic development

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