IEA Ministerial meeting on Gas Markets and Supply Security
On February 15, 2023, Ministers responsible for energy from around 40 countries took part in an IEA Ministerial meeting on Gas Markets and Supply Security. Ministers expressed their sincere condolences to Türkiye following the tragic loss of life caused by the devastating earthquakes this month and pledged their continued support for disaster relief and recovery efforts in the country. The Ministers discussed additional ways to work together in solidarity to limit the impacts of the unjustified invasion of Ukraine by Russia, particularly the energy crisis in Europe, and proposed measures to address the global impacts of the energy crisis in support of countries affected worldwide and maintaining momentum on a clean and sustainable energy transition to keep the 1.5°C limit within reach.
The meeting was chaired by Canadian Minister Jonathan Wilkinson, and co-chaired by Irish Minister Eamon Ryan and United States Secretary of Energy, Jennifer M. Granholm, and organized with the support of the IEA’s Task Force on Gas Market Monitoring and Supply Security (TFG), under the leadership of the IEA Executive Director Fatih Birol. It brought together ministers from IEA member countries, as well as from Bulgaria, Croatia, Georgia, Latvia, Moldova, Romania, Slovenia and Ukraine, and the European Union represented by the European Commission.
Ministers were encouraged by the recent stabilisation of the European energy market based inter alia on the actions taken by the EU and European countries to enhance their energy security throughout the 2022-2023 winter months and of the impacts actions have had on global supply and demand dynamics. They noted the actions identified by the IEA Secretariat and TFG and agreed to consider using all the options at their disposal to maintain domestic and regional energy security, that complements the full implementation of their climate commitments. Ministers recommend the TFG develop updated roadmaps on how the options identified in the report could be implemented in the light of the evolution of the global gas crisis and Member countries’ existing or planned implementation of response actions. Ministers noted the importance of continued detailed modeling and analysis, supported by secure data sharing, to inform and support actions to effectively manage serious risks to the resiliency of the global energy systems.
Ministers agreed that energy savings and improved energy efficiency are the first fuel and accelerating the clean energy transition is vital. They welcomed the successful response by the EU and others to the energy crisis in key areas of energy policy, from security of supply and gas storage to gas demand reduction and improved price transparency, faster deployment of renewables, and by targeted upgrades of energy infrastructure.
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