BAKU, Azerbaijan, April 23 — Haitham Al Ghais, Secretary General of OPEC, highlighted the critical role of energy security in modern society, warning that its absence could have severe consequences. In an article, Al Ghais stated that without energy, “many things we take for granted would come to a standstill.” He emphasized that disruptions to energy supplies would lead to widespread job losses, economic downturns, and societal instability.
Al Ghais expressed strong support for the upcoming “International Summit on the Future of Energy Security,” which will be hosted by the UK government and the International Energy Agency (IEA) in London. He praised the IEA’s renewed focus on energy security, a priority that OPEC fully endorses.
However, Al Ghais raised concerns about the IEA’s previous approach, particularly its “ideologically driven net zero goals” that often failed to address the practical challenges of energy transition. He criticized the IEA’s 2021 report, Net Zero by 2050 – A Roadmap for the Global Energy Sector, claiming it created uncertainty for governments, businesses, and investors due to unrealistic targets that overlooked the importance of energy security.
Al Ghais argued that the IEA’s net-zero policies endorsed overly ambitious timelines without considering energy security, affordability, or feasibility. Despite promoting net zero goals, he pointed out that oil, gas, and coal still account for over 80% of global energy consumption. He specifically criticized the IEA’s call to halt new investments in fossil fuels, warning that this could create vulnerabilities in global energy systems.
Al Ghais also noted the contradictions in the IEA’s approach, which downplays the role of fossil fuels while forecasting record-high demand for oil and gas in 2023, as well as an increase in coal consumption by 2025. “The reality is that today the world is consuming more oil, coal, and gas than ever before,” he remarked.
From OPEC’s perspective, Al Ghais stressed that energy security and emissions reductions must go hand-in-hand. “We do not view anything in isolation,” he said, adding that investments in all energy sources and technologies are necessary for sustainable development and energy security. He emphasized that policies should be based on real-world data rather than ideological beliefs to avoid undermining energy security.
In this regard, OPEC is co-hosting the 11th IEA-IEF-OPEC Workshop in Vienna, focusing on the relationship between physical and financial energy markets. Al Ghais explained that this issue is central to maintaining energy market stability and security.
Looking ahead to the London summit, Al Ghais expressed optimism about a renewed focus on energy security. He acknowledged the IEA’s long-standing role in addressing energy crises and said OPEC hopes to collaborate with the agency in developing a more inclusive approach to future energy pathways. “We look forward to working with the IEA on this, after years of its messaging and policy prescriptions impacting energy security,” Al Ghais concluded.