Friends Of Europe Podcasts

The world energy sector is experiencing major transformations. Energy markets and the climate crisis are important, but governments will drive energy decisions as most investments are government-driven, Fatih Birol, Executive Director of the International Energy Agency (IEA), said at the official 27 November launch of the World Energy Outlook 2018 report – regarded as the “gold standard in energy analysis”. “Our energy destiny rests with governments,” Birol told the Brussels conference hosted by leading think-tank Friends of Europe. Indeed, some $42.3 trillion is needed for energy supply to 2040. Over 70% of the $2 trillion required each year in energy supply investment either comes from “state-directed entities” or receives “a full or partial revenue guarantee”, he explained. The remaining 30% is driven by the market. The IEA World Energy Outlook reveals the latest energy trends and the implications of different pathways on global climate goals, energy security and geopolitics. “We chose electricity as