For many decades, the production of industrial goods was concentrated in the Northern hemisphere, while energy resources were abundantly available in a limited number of developing countries and those with centrally planned economies. In this context, the security of energy supply was mainly understood as a secure procurement of cheap energy resources to the industrialised world. Military forces have been constantly upgraded and deployed to ensure geopolitical interests, including the control of energy resources. Nowadays, the depletion of oil and gas reserves, the growing concerns about global climate change along with the emergence of new energy demand centres in South and East Asia and the continuing political tensions in several major energy-exporting and -transit countries raise the question of possible alternative strategies to safeguard global energy security. It is vital to change the old paradigm. But what could be the new paradigm? This paper attempts to contribute to this debate.