Against the backdrop of growing need for innovative strategies to tackle both traditional and emerging energy security risks in an era of geopolitical tensions, technological transformation, and climate change, the International Summit on the Future of Energy Security will launch in London this Thursday with Kuwait's participation. The high-level gathering will serve as a global platform for leaders to assess current trends in energy markets and develop coordinated responses.

Summit Details:

• Hosted by: The International Energy Agency (IEA) in cooperation with the UK government

• When: April 24-25, 2024 in London

• Participants: 120 high-level attendees including ministers and equivalent officials from 60 governments, along with leaders from oil & gas, renewables, nuclear, electricity, critical minerals sectors, and representatives from international organizations and civil society

Key Discussion Topics Will Include:

• Shifts in traditional fuel demand patterns

• Electricity's expanding role in energy systems

• Growth of clean energy technologies and their supply chains

• Availability of critical minerals for energy transition

• Energy system resilience against climate impacts

• Technological innovation including AI applications

Pre-Summit Events:
Technical workshops on Wednesday will focus on:

• Gas security

• Critical minerals

• Ukraine's energy system

Current Energy Security Context:
The summit occurs as global energy markets remain vulnerable to disruptions, exemplified by the 2022 Russia-Ukraine war's aftermath. Between 2022-2023, Russian pipeline gas deliveries to Europe dropped by 120 billion cubic meters, triggering a global energy crisis that:

• Spiked gas and electricity prices

• Fueled inflation

• Intensified geopolitical risks

IEA's Evolving Role:
Celebrating 50 years as the preeminent global energy security arbiter, the IEA has expanded its mandate beyond oil security to include:

• Natural gas and electricity security

• Clean energy supply chains

• Monitoring emerging threats including:

  • Cyberattacks on energy infrastructure

  • Geopolitical risks

  • Climate change impacts

Future Energy Projections:

• Electricity demand expected to grow sixfold by 2035, driven by:

  • EV adoption

  • Digital economy expansion

  • AI advancement

  • Broader electricity access

Clean Energy Transition Paradox:
While diversifying energy mixes enhances security, it introduces new challenges requiring:

• Greater grid flexibility for variable renewables (wind/solar)

• Coordinated policy solutions

IEA's Analytical Work:
The agency produces in-depth assessments to:

• Identify electricity security risks

• Develop best practice frameworks

• Provide policymakers with data-driven solutions

Ongoing Mission:
The IEA continues strengthening international cooperation to ensure secure, sustainable, and affordable electricity systems worldwide.