The IEA’s World Energy Investment Outlook

Introduction

The British Institute of Energy Economics in association with Citi  hosted   the global launch of the IEA’s Special Report on Energy Investment which Dr. Fatih Birol presented for the first time  publically on June 6^th in London. This was opportunity to hear first hand from the IEA’s Chief Economist about their new analysis of global energy investment and to question Dr Birol directly about specific aspects of the report.  The report covers the global outlook but in this  presentation Dr.  Birol focused  more on the challenges and implications for energy-investments in Europe and the UK.

World Energy Investment Outlook Special Report

Questions about the adequacy, sustainability and reliability of the future of the global energy system often boil down to questions about investment.  Will policy create enough opportunities in Europe after a decade of mostly underperforming investments in the power market? Will sufficient financing be available, on suitable terms, for new wind farms to be build? What are the implications of high capital costs of LNG for Europe’s hope to diversify its gas supply? What risks for fossil fuel investments could arise as a result of stronger decarbonisation policies? And will investment be channelled towards areas that address – or exacerbate – the contribution made by the energy sector to climate change?

These are some of the questions that are addressed in a special report in the World Energy Outlook series. In this report the IEA makes a detailed assessment of current flows and future investment needs along the entire energy value chain and  examines financing options and barriers to realisation.

Dr. Fatih Birol, Chief Economist , Director, Global Energy Economics, International Energy Agency (IEA), Paris

Dr. Fatih Birol is the Chief Economist of the International Energy Agency in Paris. He is responsible for the IEA’s flagship World Energy Outlook publication, which is recognized as the most authoritative source of strategic analysis of global energy markets. He is also the founder and chair of the IEA Energy Business Council, which provides a forum to enhance cooperation between government and industry.

Dr. Birol has been named by Forbes Magazine among the most powerful people in terms of influence on the world’s energy scene. He is the Chairman of the World Economic Forum’s (Davos) Energy Advisory Board and has served as a member of the UN Secretary-General’s ‘High-level Group on Sustainable Energy for All’. He is the recipient of numerous awards from government and industry for his contribution to energy and climate economics. In 2013, he received the Japanese Emperor’s Order of the Rising Sun, the country’s highest honour. He has also been decorated by the governments of Austria (Golden Honour Medal), France (Chevalier dans l’Ordre des Palmes Académiques), Germany (Federal Cross of Merit), Iraq, Italy (Order of Merit of the Republic), the Netherlands, Poland, Sweden (Order of the Polar Star), Turkey, the United States and the Russian Academy of Sciences. He is a past winner of the International Association of Energy Economics’ award for outstanding contribution to the profession.

Prior to joining the IEA in 1995, Dr. Birol worked at the Organisation of the Petroleum Exporting Countries (OPEC) in Vienna. A Turkish citizen, Dr. Birol was born in Ankara in 1958. He earned a BSc degree in power engineering from the Technical University of Istanbul. He received his MSc and PhD in energy economics from the Technical University of Vienna. In 2013, Dr. Birol was awarded a Doctorate of Science honoris causa by Imperial College London. He was made an honorary life member of Galatasaray Football Club in 2013.

Venue

The meeting will take place in the Wellcome Trust Lecture Hall at the Royal Society. Registration and refreshments will start at 10.00 at the registration desk outside the lecture hall and the meeting will start at 10.30. Please click here for directions to the Royal Society.

Registration

This event is an invitation only event but all BIEE members will receive an invitation. If you are a BIEE member and have not received an invitation please email admin@biee.org   and we will send one to you.

If you are not a member and are interested in attending  you can add your name to the waitlist

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