Busan: International Energy Agency (IEA) Executive Director Fatih Birol on Wednesday underscored the importance of diversifying supply chains to bolster global energy security.

According to Anadolu Agency, Birol emphasized the need to diversify critical mineral supply chains during an address at the World Climate Industry Expo in Busan, South Korea. He highlighted that the "number one golden rule of energy security is diversification," yet noted the current lack of diversification in critical minerals.

"Energy security is, today, national security in many countries," Birol stated, pointing out China's dominant role in the refining and mining of critical minerals, with a share exceeding 70 percent in refining. He warned that reliance on a single country could pose substantial risks, as political tensions or natural disasters might disrupt the entire supply chain.

Birol highlighted the strategic importance of these critical minerals for sectors such as artificial intelligence, semiconductors, and defense. He stressed the urgent global need to invest in electricity power grids and storage systems to meet the rising demand driven by the growth of AI and advanced industries.

He remarked, "We are entering the 'age of electricity,' which will re-shape the energy landscape in the coming decades." Birol further noted that electricity usage has already doubled at twice the rate of overall energy demand in the past decade and is projected to grow six times faster by 2035.