Global energy leaders call for cooperation amid rising energy security threats
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The International Energy Agency (IEA), in partnership with the UK government, gathered industry stakeholders from across the world to address the emerging risks to energy security.
The reason for the summit, according to the IEA, is the growing number of threats facing the global energy transition, such as supply chain disruptions, extreme weather events, and geopolitical tensions.
“The world is entering a new age of electricity, driven by clean energy technologies and digital innovation,” said IEA executive director Fatih Birol. “This brings new opportunities but also new vulnerabilities. Diversification of supply – whether it’s oil, gas or critical minerals – remains a golden rule of energy security. We must be prepared to act quickly and collectively.”
European energy security
The 2-day summit, hosted in partnership with the UK government and attended by key players in the public and private sectors, emphasised the need to foster predictability, diversification of supply and cooperation, with cooperation being emphasised in the discussions hosted on day one of the event.
German Galushchenko, minister of Energy in Ukraine, highlighted that Ukraine has been existing in an unpredictable landscape since the war began.
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“We have zero predictability – we do not know what energy facility will be hit today…”
He stressed that without cooperation and diversification of supply – it would be impossible to survive. These should become a way of life, he suggested, rather than merely waiting for an emergency and then reacting.
Marc Ferracci, minister for Industry and Energy of France, weighed in on the European threat landscape. “The dependence on energy imports is one of the greatest vulnerabilities we have.”
Europe is fighting for energy independence, he said, explaining that energy supply is used as a weapon, clear in the light of the Russian aggression in Ukraine.
He added that energy security is a geopolitical tool and Europe can no longer play by the rules of the previous age. Europe needs an updated doctrine to address dependence on fossil fuels.
Cooperation outside of Europe
Edwin Palma Egea, minister of Mines and Energy of Colombia, provided a perspective from beyond Europe, focusing on the role of the global south.
While Colombia is at the heart of South America, its future is inextricably linked with the future of the UK and other countries. He emphasised the interconnectedness and interdependence of nations transitioning to cleaner energy together.
“Columbia has great potential to unfold huge amounts of renewable energy, around water, air and sun and strategic minerals…”
“We need solidarity, cooperation and unity…”, he said, emphasising how this is crucial to developing the green economy of the global south.
And the global south was not the only region preaching regional cooperation.
Fadilliah Bin Haji Yusof, deputy prime minister and minister of Energy Transition and Water Transformation for Malaysia, echoed this by emphasising the importance of growing the Asian power grid, facilitating regional support and exporting excess energy to areas where it’s needed.
“We are coming up with regulation… to improve [the] energy exchange programme between member states.
“This is the way forward as far as Malaysia is concerned…
The US was more of an outlier in terms of promoting cooperation. Tommy Joyce, Acting Assistant Secretary of Energy, said that the country is focused on energy dominance and sovereignty, avoiding “concessions to or coercion from China.”
Despite some differences, government representatives agreed on the core aspects of ensuring energy security. Shirley Ayorkor Botchwey, secretary-general of the Commonwealth of Nations, summed up the discussion emphasising the need for resilience, as well as fairness, reminding the audience that energy security is ultimately about people.
We need a global commitment to cooperate, because “true energy security is collective.”
Originally published on Power Engineering International.
