The International Energy Agency (IEA) concluded their biannual ministerial meeting in Paris, France, yesterday (October 19, 2011) with a renewed resolve to continue to foster a more secure and sustainable energy development.

The 2011 Ministerial meeting was attended by Energy Ministers from 37 countries consisting of those from the IEA's 28 member states, 7 partner countries (Brazil, China, India, Indonesia, Mexico, Russian Federation, South Africa) and 2 accession countries (Chile and Estonia).

The theme of 2011 IEA Ministerial Meeting, which took place in Paris, France on October 18 and 19, 2001 was “Our Energy Future: Secure, Sustainable and Together ".

During the two (2) days conference, the ministers discussed global energy challenges and policy priorities. They acknowledged that the world faces significant challenges of meeting increasing demand for energy and at the same time reducing global greenhouse gas emissions and ensuring energy security. The demand for energy will grow by a third by 2035 with non-Organization for Economic Co-operation and Development (OECG) countries accounting for 90% of that growth. The challenge is how to get investments to match the growth in energy demand; the conference put the required investments at an estimated US$40 trillion.

The IEA ministers meeting also observed that global disruptions and uncertainty such as those witnessed recently in North Africa and Middle East, the Fukishima Daiichi Nuclear Accident in Japan and the Deepwater Horizon spill incident in the Gulf of Mexico are reminders that threats to the world's energy security are real and could occur unexpectedly.

The meeting asserted that since most of the future investments to meet future energy demands will come from the private sector, governments (i.e. the IEA ministers and the partner countries and other world governments) will be required to provide the necessary legal, regulatory and policy frameworks to support the growth. Also, the threats to energy security requires that the world should constantly improve on our safety standards.

The meeting further stated that no country can achieve the energy security, economic development and environmental sustainability alone, underscoring the fact that IEA is as relevant today as it was when it was first formed 37 years ago. To this end, the ministers collectively resolved to to drive forward for secure and more sustainable energy future across the world.

The IEA ministerial meeting also discussed the various energy sources a country can use to meet her future needs. It is up to each country to decide on the appropriate energy mix to meet the country's energy needs. There will be increased use of coal as an energy source for several decades to come but as we do this, we need to reduce global greenhouse gas emissions. Consequently research should continue on clean coal technologies such as Carbon Capture and Storage (CCS). Also, we are getting into what the conference termed the "Golden Age of Gas" when natural gas market will increase by up to 50% by 2035. Wind for electricity will also increase. All growing markets should have access to transparent and accurate data to assist in minimizing price volatility.

Nuclear energy currently meet 14% of the world energy supply, which is a significant slice that if cut off will translate to increase use of coal an natural gas. After the Fukishima accident, many countries were discouraged from pursuing new nuclear projects or continuing to operate existing ones. However, some countries may still choose to continue with nuclear energy based on their choice and the country's legislations.

Ministers endorsed the need to support R&D and accelerate the deployment of safe renewable and other low-carbon energy technologies and promote energy efficiency

For more on the details of the resolutions at the IEA ministers meeting readers should download and read the following documents:

 

• Conclusions of the IEA Ministers Meeting

• Press Conference - Chairs closing remarks

• Chair's Summary