Global energy supplies remain acutely vulnerable to disruption despite efforts to secure markets since Russia’s 2022 invasion of Ukraine, the International Energy Agency (IEA) has warned, according to reporting from the Financial Times. As over 60 global leaders, ministers, and energy company heads prepare to convene in London this week, the focus will be on strengthening energy resilience amid a rapidly evolving geopolitical and climate landscape.
UK Prime Minister Sir Keir Starmer will host the two-day summit, alongside IEA Executive Director Fatih Birol. High-profile attendees include European Commission President Ursula von der Leyen, and senior officials from the U.S., Japan, France, Germany, and India. Executives from fossil fuel giants like Shell, BP, and ExxonMobil will join renewable energy leaders such as Ørsted, Vestas, and Iberdrola, highlighting the summit’s attempt to bridge traditional and emerging energy sectors.
Birol emphasized that the “lessons from Ukraine have not yet been fully understood,” pointing to the scramble for alternative energy sources following the abrupt loss of Russian pipeline gas. Despite Europe’s success in averting a full-blown energy catastrophe, the continent remains heavily dependent on imported natural gas.
“There are three golden rules for energy security,” Birol said. “Diversification of supplies, political predictability to support investment, and international cooperation.” Yet, the IEA chief cautioned that these pillars remain fragile. He cited sweeping subsidy changes in Europe and the U.S., as well as the ongoing trade war under President Donald Trump, as factors sowing uncertainty and undermining global coordination.
Trump’s aggressive trade policies, including tariffs that have rattled markets and upended global supply chains, are particularly concerning. “The trade war has created uncertainty which will affect demand for oil and gas for some time to come,” Birol warned.
The summit will address not only traditional energy risks—such as oil and gas supply interruptions—but also a rising tide of new challenges. These include regional conflicts, cyber threats, attacks on undersea infrastructure, and extreme weather events linked to climate change. “There are traditional risks and emerging risks, and these have to be more in the international debate,” Birol told the Financial Times.
The IEA has also raised concerns about disruptions to supply chains and access to critical minerals essential for clean energy technologies, adding another layer of complexity to the energy transition.
A notable absence at the London summit will be China. Despite receiving an invitation, Beijing declined due to scheduling conflicts. Still, Birol noted that the countries represented at the summit account for roughly 75% of global GDP—“not bad at all,” he remarked.
The event comes amid renewed debate over fossil fuel exploration in regions like the North Sea. While asked whether the UK should reverse its decision to halt new oil and gas exploration licenses, Birol diplomatically deferred, stating it was a matter for “the UK government and industry” to evaluate in terms of long-term energy security and profitability.
As the world faces a growing array of geopolitical and environmental challenges, the London summit—closely tracked by the Financial Times and global markets alike—aims to redefine what energy security means in the 21st century. Whether governments and industries can align on a resilient path forward, however, remains an open question.
