IEA Warns of Unresolved Global Energy Security Threats

The head of the International Energy Agency has cautioned that the global energy supply remains at risk of shocks, with lessons from Ukraine not fully grasped. Three key rules for energy security were highlighted: diversifying energy sources, ensuring political stability for long-term investments, and promoting global cooperation. Despite these rules, Europe and the UK have faced challenges in securing their energy supply. The ongoing tariff disputes, such as Trump’s actions, are further complicating matters by impacting cooperation. This week, political leaders are meeting in London to address energy security alongside industry representatives from oil and gas giants like Shell and alternative energy producers like Ørsted. Discussions will cover traditional risks like oil and gas losses, as well as emerging risks like supply chain disruptions and mineral scarcity. Notably, Chinese companies will be absent from the gathering, with the IEA expressing regret over their inability to attend due to scheduling conflicts. The event, co-organized by the IEA and the British government, will see the participation of countries representing three-quarters of the world’s GDP.