By Nusaiba Ben-Shaibah LONDON, April 22 (KUNA) -- The International Energy Agency (IEA) will hold the International Summit on the Future of Energy Security, in partnership with the UK government in London on April 24-25.
The Summit will examine the geopolitical, technological and economic factors affecting energy security at the national and international level.
It will provide leaders and decision makers from around the world with an opportunity to review the trends shaping global energy security -- and reflect on the tools needed to address traditional and emerging energy security risks.
Key areas include changes in demand, supply and trade of major fuels; energy access and affordability; the expanding role of electricity in many energy systems; the growth of clean energy technologies and their supply chains; and the availability of the minerals and metals required for many clean energy technologies; energy system resilience to the impacts of extreme weather and climate change; and technology innovation and the rise of AI.
The Summit will bring together 120 high-level figures, including Ministers or equivalent level representing 60 governments, CEOs, heads of international organizations, civil society representatives.
Leaders from all across the energy sector -- including oil, gas, renewables, electricity, nuclear, critical minerals and more -- as well as from international organizations and civil society, will also take part in the discussions in and around the Summit.
On April 23, government and industry experts will convene in London for a series of high-level events and technical workshops on key topics including gas security, critical minerals and Ukraine's energy system.
Energy supply disruptions can have major socio-economic impacts, as was demonstrated following Russia's full-scale invasion of Ukraine in February 2022.
Over the course of 2022 and 2023, Russian pipeline gas deliveries to Europe fell by almost 120 billion cubic meters, triggering a global energy crisis that drove up gas and electricity prices, fueled inflation and further heightened geopolitical risks. The IEA has been at the heart of international energy security for 50 years -- working to avoid, mitigate and manage energy disruptions and crises.
While the Agency's mandate initially centered on oil security, its work has since broadened to include the security of natural gas, electricity and clean energy supply chains.
Threats to energy systems are constantly evolving.
The IEA continually monitors and analyses these threats, including geopolitical risks, cyberattacks on energy infrastructure, supply chain disruptions and extreme weather events. Between now and 2035, electricity demand is set to grow six times as fast as overall energy demand as a result of factors like the adoption of electric vehicles, air conditioning use, the digitalization of the economy, the uptake of artificial intelligence and progress on expanding electricity access. Yet new threats are emerging, from a rise in cybersecurity threats to more frequent climate impacts on infrastructure.
Clean energy transitions also bring benefits and fresh challenges. They can improve energy security through a more diverse mix of electricity sources and reduced reliance on imported fuels. At the same time, they require greater flexibility in electricity systems to accommodate variable renewable energy sources like wind and solar.
Countries are implementing a wide range of solutions to tackle these issues. Through its in-depth analysis, the IEA provides insights into emerging electricity security risks, offers guidance on best practices for policy development and supports policymakers with data-driven solutions, while fostering international cooperation to ensure secure, sustainable and affordable electricity. (end) nbs.gta