Istanbul: The global energy map is set to be redrawn in the coming years as the Strait of Hormuz crisis forces countries to rethink supply security, trade routes, and partnerships, International Energy Agency (IEA) President Fatih Birol said Thursday. 'Regardless of how the Hormuz issue ends, I think the world energy map will begin to be redrawn in the next two to three years. Partnerships will be redefined. New partnerships will be established,' Birol said at a meeting of the Turkish Industry and Business Association's High Advisory Council in Istanbul.

According to Anadolu Agency, Birol stated that the energy crisis triggered by the Iran war had already altered calculations in global energy markets. He noted that abundant supply before the war and the release of oil stocks helped limit price increases, but emphasized that the only lasting solution was the restoration of safe passage through the key waterway. 'The solution to this problem, the only and most important way, is the unconditional opening of the Strait of Hormuz in a way that all actors believe is safe,' he said.

Birol highlighted that until four years ago, the world economy and global energy system had two major 'jugular veins': pipelines carrying energy from Russia's Western Siberia to Europe and the Strait of Hormuz. 'Both are currently closed,' he said. The IEA chief pointed out that disruptions to energy flows through Hormuz, and the risk of future interruptions, had pushed trust and supply diversification to the top of the global energy agenda. 'Trust will become an extremely important factor in agreements to be made in the energy world. People are now paying attention, and will continue to pay attention, to diversifying as much as possible and not depending on a single source,' he said.

He mentioned that the crisis was accelerating interest in alternative pipelines, domestic energy resources, and new investment destinations. Birol also noted that the world was rapidly moving toward an 'age of electricity,' with electricity demand growing three times faster than overall energy demand. 'Growth in electricity is dominating everything,' he said. He suggested that concerns over energy security would further boost investment in renewables, nuclear power, and battery storage technologies.

Referring to the UN Climate Change Conference, COP31, which Trkiye is set to host this year, Birol mentioned that the summit presents a major opportunity for the country. He identified key priorities including increasing the global electrification rate from 25% to 35% by 2035, halving waste within 10 years under Trkiye's zero-waste agenda, and promoting cleaner cooking methods in Africa. 'COP31 is a tremendous opportunity. I think COP31 is an opportunity to show our humanitarian sensitivities to the world,' he said. 'For Trkiye, there is a historic opportunity and a historic duty. Raising the climate issue, which has been moving downward on the agenda, will be a matter that corresponds with our humanitarian sensitivities.'