SINGAPORE - Russia’s invasion of Ukraine has upended energy markets, sent fuel prices soaring and made energy security of paramount concern for world leaders.
And when it comes to seeking advice, they turn to one man: Dr Fatih Birol, executive director of the Paris-based International Energy Agency (IEA).
From Group of Seven and Group of 20 meetings to the World Economic Forum at Davos, Dr Birol and his agency are in high demand as nations try to navigate the global energy crisis and the growing impact of climate change.
In recent weeks, he has met ministers from across the world and major organisations such as Nato. This week, he is keynote speaker at the Singapore International Energy Week event at the Sands Expo and Convention Centre.
“There are many men and women in the hot seat at present and, unfortunately, I think I am one of them,” he told The Straits Times from Paris in an exclusive interview.
Dr Birol, 64, sees the crisis as an opportunity to speed up the transformation of the global energy system away from fossil fuels and towards green energy. Asia, in particular, is key because of its huge demand for energy in the coming decades, he said.
For example, the IEA says that in the next 25 years, South-east Asia will add electricity capacity equivalent to the power system of the European Union, treble the number of cars on the road, and increase clean energy investment seven times.
His vision is for the IEA to be a key driver of the energy transition. “I want the IEA to be the guide for governments and industry around the world to work towards a clean and secure energy future.”
The Turkish economist has developed a deep understanding of global energy markets, first working for oil-producing cartel Opec in Vienna and then joining the IEA in the mid-1990s, starting as an energy analyst. He earned his master’s degree and PhD in energy economics from the Technical University of Vienna in Austria.
Since taking on the role of executive director at the IEA in 2015, he has refocused the agency’s work on the green transition and encouraged its members to invest in renewable energy, electric vehicles and hydrogen to limit the impact of climate change. Burning fossil fuels is the main source of emissions heating up the planet and causing man-made climate change.
Another key focus was expanding the agency’s membership to include nations in Asia. The agency now covers about 80 per cent of global energy consumption and includes 31 member countries and 11 association countries, including Singapore and Indonesia.
Dr Birol said he travels at least 50 per cent of the time at present, meeting leaders, speaking at conferences and other engagements. And he offsets his airline emissions, part of a policy at the IEA, which aims to be net zero by 2025.
But do all the leaders he speaks to support the green transition and the need to phase out fossil fuels?
“Not all of them, but I will say many of them,” he said.
He tries to ensure that “climate goals are not forgotten” as nations try to secure energy at an affordable price.
In recognition of his work, Time magazine last year named him one of the world’s 100 most influential people, while Forbes listed him as one of the most influential people in the world of energy.
He was also recently granted a rare third term at the IEA, till 2027 – most international organisations usually allow only two terms.
So what drives him and how does he keep up with the hectic pace?
“I am in love with my job,” he said, adding that he recently told the IEA’s governing board members that he loved his job so much he would do it for free. “Even if you don’t pay me, I am happy to do this.”
His rare moments of downtime allow him to enjoy his other passion: football. He is an honorary life member of Galatasaray Football Club in Turkey. “But when I watch my team, I’m getting even more stressed! I love football. It really is my second passion.”
