IEA

International cooperation is key to strengthening energy security despite the differing paths and strategies of individual countries, the IEA said at a summit in London on Thursday.

The fossil fuel industry should commit at COP28 to reduce operational emissions by 60% to 2030, the IEA’s chief executive Fatih Birol said.

Renewable energy capacity additions are set to increase by a record 107 GW year on year to reach 440 GW globally in 2023, an IEA report said.

The head of the International Energy Agency Faith Birol said that the oil and gas industry needs to slash emissions from its operations and show that it is serious at the COP28 summit.

Europe is facing a 27 billion cubic meter natural gas shortage in the winter of 2023-2024, the International Energy Agency warned on Monday.