Some 40 countries will convene for a Special IEA Ministerial on 15 February to review the state of natural gas markets and discuss actions to strengthen security of supply amid the global energy crisis. The virtual meeting will be chaired by Canada’s Minister for Natural Resources Jonathan Wilkinson, and co-chaired by US Secretary of Energy Jennifer M. Granholm and Ireland’s Minister for Environment and Climate Eamon Ryan.
Russia’s invasion of Ukraine in February 2022 triggered an energy crisis whose ripple effects for the global economy are still being felt by consumers and businesses worldwide. The most severe price spikes and disruptions have taken place in gas markets. Countries in Europe and beyond are working to navigate the risks posed by the ongoing crisis and how best to ensure energy security going forward.
The IEA Ministerial will bring together both IEA and non-IEA member countries from across Asia Pacific, Europe and the Americas to identify and endorse measures to improve the balance between gas supply and demand. It will have a focus on actions that can be adopted to support Europe’s short-term gas market situation in a way that is consistent with countries’ long-term energy transition and climate goals. The meeting will also take into account the global repercussions of the cuts in gas supplies to Europe.