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IEA / Birol: It is necessary to adopt “extraordinary measures” against the energy crisis

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The president of the International Energy Agency (UEA), Fatih Birol, said that important measures should be taken to compensate for the deficit caused by Russian oil and gas exports in the energy sector: “Right now there is a situation extraordinary in the energy markets, which requires extraordinary measures ”. he said.

Birol, in his statement before the G7 summit, said the next six months could be extremely difficult for the world economy. Birol explained that oil and natural gas prices can remain “high and volatile” in this process, which could lead to a rapid rise in inflation and a global recession.

Expressing that there are some important steps that can be taken in the short term to alleviate the industry, Birol said:

“Producers of oil and natural gas must immediately release oil and natural gas that they do not have on the market and contribute to the stabilization of the market, especially the large oil producers in the Middle East. Secondly, some planned measures will have to in the field of There may be practical measures such as lowering by -2 degrees or driving cars every other day. Another step could be to postpone the closure of nuclear power plants which should be closed. On the one hand, existing producers should increase oil and gas production and contribute to supply and, on the other hand, measures should be taken to reduce demand “Without taking these measures, it is impossible to compensate for the severe drop in exports of a country like Russia, which is the most major world exporter of oil and natural gas. There is an unusual situation on the energy markets right now, which requires extraordinary measures to be taken. “

“Some countries and companies see the crisis as an opportunity”

Birol said the measures to be taken against the “global energy crisis”, which has its impacts around the world, should not make the climate crisis worse.

“Some countries and companies are planning to increase investments in fossil fuels taking advantage of the crisis. These investments have two risks. The first risk is that if you start these investments in fossil fuels today, the first production will arrive on the market in 5-10 years. later as soon as possible. Thus, the demand for oil or coal will increase. It is an optimistic and risky assumption for these countries and companies to think that this will happen because technological developments, decisions made and will be taken by countries will reduce the demand for fossil fuels. Secondly, the climate risk: if these projects are implemented, it will be almost impossible for the world to reach the zero emissions target by 2050. In this regard, the issue I want to focus on is not delving into another crisis while responding. to this crisis “.

Birol said many countries currently see coal as a solution to ensure energy security.

Birol, who said that according to the latest IEA study, investment in coal has increased by 10 percent worldwide, “While everyone is expecting and hoping that interest in coal will decrease, we see an increase here. reason for this is the thought that coal will be a solution to security of energy supply. I think you need to think in two ways. At the moment. “Using existing coal plants for a few months in an emergency is a move reasonable and justifiable, but long-term investments in coal are risky in terms of climate, business and profitability. “made his assessment.

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