President Lee Jae-myung will meet with Fatih Birol, the Executive Director of the International Energy Agency (IEA), on September 17 to discuss strengthening the resilience of energy supply chains in the Asia-Pacific region.
The meeting is scheduled for 2 p.m. at the Blue House and aims to elaborate on the energy supply chain cooperation proposal that President Lee suggested during the G7 summit in June. This encounter is seen as a step to bolster energy security in the Asia-Pacific region while preparing for supply uncertainties stemming from the Middle East.
During their discussions, President Lee and Birol will review the current international energy market and industry trends amid escalating energy and climate crises, including the recent situation in the Middle East and the severe flooding in Nepal. They will also exchange views on enhancing global energy security in the electrification era and explore new directions for energy cooperation in the Asia-Pacific region.
Birol has led a coordinated release of 400 million barrels of emergency oil reserves among IEA member countries in response to the energy crisis caused by the conflict in the Middle East. The IEA is also collaborating with South Korea in the areas of energy security and climate change, and they plan to co-host the International Climate Industry Expo starting in 2024.
The IEA, established in 1974 in response to the oil crisis of 1973-1974, is an autonomous agency under the Organization for Economic Cooperation and Development (OECD) that coordinates collective responses to energy supply crises. Its scope has expanded beyond oil to include electricity, natural gas, renewable energy, critical minerals, and climate change. South Korea became a member in 2002.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.