Geopolitical Developments In Middle East Very Worrying For Energy Security IEA's Birol
Date
10/16/2024 7:12:21 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 16. Geopolitical
developments in the Middle East are very worrying for humanitarian
reasons and from an energy security point of view, said Fatih
Birol, Executive Director of the International Energy Agency (IEA),
as he addressed the presentation of IEA's World Energy Outlook
2024, Trend
reports.
“Because a lot of oil and gas is produced in the very region and
about 20 percent of the global oil supply goes through the strait
of Hormuz. So as such, it is a major concern for the IEA and we are
monitoring the situation day by day very closely: what is the
situation in the oil markets and in the gas markets. This report of
course looks at several energy security challenges. A major
emphasis is on the traditional energy security risks on oil and
gas. The World Energy Outlook also looks at the emerging energy
security challenges such as the risks in terms of the concentration
of manufacturing of the clean energy supply chains, critical
matters, key topics in our outlook,” he said.
Birol went on to add that another area is that as a result of
climate change, the world is witnessing extreme weather events.
which are becoming much more intense and much more frequent and
they have a serious impact on the energy infrastructure.
“We are looking at the energy security from different angles and
we thought as International Energy Agency, since the definition of
the energy security is evolving and there is a need to have a
common understanding among the nations' decision makers around the
world, we have decided, together with the UK government, next April
in London to host an international summit on the future of energy
security. We will report this in the next days to come,” he
said.
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