KUWAIT: The International Energy Agency (IEA) has underscored the vital role Kuwait and fellow oil-producing nations play in safeguarding global energy security amid ongoing international challenges. The agency also commended Kuwait’s ongoing efforts to diversify its economy. In an interview with KUNA, Farrah Boularas, IEA’s Middle East and North Africa (MENA) Program Manager, outlined preparations for the upcoming international summit on the future of energy security, set to take place in London on April 24-25.

Boularas emphasized that while the global energy landscape continues to shift toward low-carbon alternatives, the stability of traditional energy markets remains a key priority. She noted that current geopolitical tensions and the effects of climate change further underscore the need for a reliable and secure energy supply. “Kuwait and other producers have long maintained a strong track record of reliability, positioning them as essential players in ensuring energy market stability,” she stated.

While the global share of oil and gas is projected to decline, Boularas stressed the importance of economic resilience and adaptability among energy-exporting countries as demand patterns evolve. Highlighting the region’s potential in the global energy transition, Boularas pointed to the strategic advantage of existing infrastructure and the opportunity to channel oil and gas revenues into clean technologies.

She reaffirmed the IEA’s commitment to technical collaboration through its open-door policy, noting strengthened partnerships with Kuwait and other regional nations in efforts to reduce emissions and develop renewable energy sources. Boularas also revealed that the agency is preparing a comprehensive report on the future of electricity in the region, with a particular focus on the increasing demand driven by climate-related factors.

Regarding the London summit, she said the event will address the intersection of geopolitics, technology, and economic pressures on energy security. It will also serve as a platform for global leaders to coordinate strategies for mitigating current and emerging risks. She concluded by reaffirming the IEA’s continued support for international cooperation in achieving global energy security and advancing sustainable energy transitions. - KUNA