General

‘It is difficult for Davos to reach joint decision on energy crisis,’ says IEA chief Birol

The head of the International Energy Agency (IEA) said on Thursday that it is very difficult for the community meeting this week in Davos, Switzerland to reach a joint decision on the energy crisis.

On the sidelines of the World Economic Forum (WEF), Fatih Birol told Anadolu that one of the top items of the annual meeting is the war-driven energy crisis.

Having just recovered from pandemic-induced demand weakness, the global energy sector has faced an unprecedented supply crisis since last year when the eruption of the Russia-Ukraine war reshaped the worldwide energy map.

"How to find a solution to the energy crisis and what measures can be taken was the subject of discussions at almost all meetings in Davos," added Birol, a Turkish-born economist and energy expert.

After having met with heads of state and top executives of energy companies taking part in Davos, he said he does not expect a joint decision that everyone agrees to on the energy issue.

An unprecedented and complicated energy crisis has been facing the whole world, he said, adding that the world has to live with higher energy prices in the coming days.

Saying that Türkiye has been among those countries trying to reduce high energy prices by taking various measures, he said the country has taken important and good steps in energy, including renewables.

"The availability of natural gas in the (Black Sea) Sakarya Gas Field and its contribution to the Turkish economy is an important issue. It is also vital that Türkiye opened an important natural gas storage facility," he said.

Türkiye has accelerated its work on nuclear energy and that is a part of its energy strategy, which is something we should all be happy about, he said, adding: "But it is also important which nuclear partners and conditions we will work with."

- IEA

The members of the Organization for Economic Cooperation and Development (OECD) established the IEA in 1974 to help coordinate a collective response to major disruptions in the supply of oil.

It stands as one of the institutions that play a key role in determining global energy policies.

Since 2015, when Birol took its helm, the IEA has opened its doors to major emerging countries to expand its global impact, and deepen cooperation in energy security.

Source: Anadolu Agency