European ministers to Al Jazeera Net: Red Sea attacks will raise energy prices

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PARIS -

Energy leaders from around the world gathered in Paris this week for the 2024 IEA Ministerial, its 50th anniversary, co-chaired by France and Ireland.

The two-day event concluded with the need for countries to commit to protecting energy security in light of the continuing Ukrainian war and conflict in the Middle East, as well as enhancing global financial flows to accelerate the transition to clean energy to maintain the goal of reducing global warming, especially in emerging and developing economies.

The meetings of the ministers of the 31 member states of the International Agency focused in particular on the importance of renewable energy to reduce dependence on Russian energy and goods and monitor the risks threatening shipping in the Red Sea at the hands of the Houthis in response to Israel’s war on the Gaza Strip.

Russian threat

During Tuesday's meeting on energy transition and security, guests talked about how to respond to Russia's use of gas as a weapon of war and the need to ensure the resilience of clean energy supply chains by securing supplies of critical minerals and developing appropriate technology for them.

The Ukrainian Minister of Energy, German Galoshenko, confirmed to Al Jazeera Net that his country was able to stop the Russian nuclear fuel monopoly, and a number of countries moved to establish their own projects to increase their production of uranium to get rid of Russian influence.

He added, "Today everyone is aware that dependence on Russian fossil fuels is a matter of national security, and if some countries still want to deal with Moscow, I tell them that it is not a reliable partner. Regardless of the contracts it has signed, it can be stopped at any time and without providing any explanations." ".

Galoshenko continued, "The goal of making some reductions in Russian gas prices is to influence governments and countries directly, which is a very dangerous matter."

For his part, Polish Minister of Climate and Environment, Krzysztof Paulista, indicated to Al Jazeera Net that the European Union imposed sanctions on Russia regarding energy imports, and was able to reduce its dependence on Russian fossil fuels to a significant degree.

The Irish Minister of Environment and Climate, Eamonn Ryan, confirmed the success of this European plan to reduce dependence on Russian oil, saying, “We learned after two years that (Russian President Vladimir) Putin will not win the energy battle. Austria reduced its demand for gas by 25%, and we did the same in Ireland.” “Our energy reserves have remained relatively full this winter.”

In the context of continuing to deepen international cooperation, the Energy Ministers welcomed the membership of new countries such as Ukraine, Kenya and Senegal and began discussions and constructive engagement with the Government of India in response to its request for permanent membership in the International Energy Agency.

The audience expressed fear of developments in the wars in Ukraine and Gaza (French)

Price concerns

The crises that prevent ensuring energy supplies have been on the table for discussion over the past two days, with the Houthis in Yemen confirming the continuation of their attacks on ships in the Red Sea that they say are Israeli or headed to Israel in an expansion of the repercussions of the war on the Gaza Strip.

The Ukrainian Minister of Energy linked the expected rise in prices resulting from attacks from Yemen to what happened two years ago at the beginning of the Russian attack on his country, explaining that this "put energy in trouble and led to an increase in European gas prices."

Polish Minister Paulista shared his support for this concern coming from Yemen, saying, “All conflicts affect energy prices because we depend on fossil fuels that are traded and shipped around the world, including the Strait of Hormuz, and Poland and the European Union will be among those affected by the rise in oil prices.” for example".

After Irish Foreign Minister Michael Martin described what is currently happening in Gaza and Rafah as “a matter that violates humanitarian law,” Environment and Climate Minister Ryan ruled out that the world would enjoy security by relying on the old fossil fuel system because “shipping tankers will always be a target for missiles and attacks,” he said. Saying it.

Rayyan added in his speech to Al Jazeera Net that switching to renewable energy would be a project for peace and the ideal solution to avoid any international threat, noting that the Middle East, the Horn of Africa, South Sudan and the rest of the countries that today suffer from wars have good resources that enable them to develop alternative energy, such as solar and wind energy.

In a joint statement, energy leaders stressed their readiness to act in solidarity through the International Energy Agency's mechanisms in the event of a supply disruption in the market, expecting the agency to continue to play its role to ensure global energy security.

Nuclear Energy

This ministerial meeting comes just a few months after the United Nations Climate Conference (COP28) where governments agreed for the first time to transition away from fossil fuels.

The 31 member states of the international agency announced mandates related to energy security and combating climate change, and exploring solutions to mobilize financial flows for the transition to clean energy.

In this context, Director of Global Policy at the International Chamber of Commerce, Andrew Wilson, explained that the energy field suffers from low levels of investment, which may represent an obstacle to climate financing and clean energy development.

In his speech to Al Jazeera Net, Wilson focused on the need to strengthen the role of multilateral development banks and stimulate financing and private investment in alternative energy, as well as the need to hold a discussion at the global level regarding regulatory reforms to avoid obstacles to providing financing to developing countries, especially low-income countries.

For his part, the Ukrainian Minister of Energy confirmed that his nuclear fleet “produces more than 55% of the country’s total electricity, and our nine units are still in service,” wondering at the same time: “How can countries not protect the Zaporozhye plant, which is the most important nuclear plant in Europe?” ?

Polish Minister of Climate and Environment Paulista noted that European countries need low-emission technology and saw nuclear energy as the solution and a key part of achieving this goal.

In this context, the Director General of the World Nuclear Association, Sama Bilbao y León, said during the closing session of the Energy Innovation Forum, “After COP28, we saw for the first time that nuclear energy is recognized as one of the energy technologies that we must accelerate if we are serious about achieving it.” “Achieving the goals of the Paris Agreement, and we had more than 25 countries committed to increasing nuclear capacity three times by 2050.”

In turn, the Executive Director of the International Energy Agency, Fatih Birol, indicated during the closing press conference that there is a full paragraph for the first time that recognizes nuclear energy to address issues of energy security and climate change, pointing out that it is up to countries to choose nuclear energy or exclude it.

Source: Al Jazeera