International Energy Agency (IEA) executive director Dr Fatih Birol has met with Australian PM Anthony Albanese to discuss the significant energy market challenges and fuel shortage facing the Asia-Pacific region due to the war in the Middle East.
Dr Birol, Albanese, and other senior government figures also discussed measures that could help ease pressures on consumers.
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The effective closure of the Strait of Hormuz amid the conflict has slowed a significant portion of the world’s oil and gas flows to a trickle.
In their meeting, Dr Birol thanked Prime Minister Albanese for the steps Australia has taken so far to safeguard fuel security, including support for recent IEA actions.
On 11 March, IEA Member countries agreed to release 400 million barrels of oil from emergency reserves to ease the market pressure stemming from the near-shutdown of the Strait—the largest ever collective action in history.
Dr Birol also had a bilateral meeting with Australia’s Minister for Climate Change and Energy Chris Bowen to discuss the latest developments in oil and gas markets and steps the government’s response to the crisis.
In Canberra, Dr Birol was invited to speak at a high-level event in the Great Hall of Australia’s Parliament House.
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In his address to a distinguished audience of government and industry leaders, he highlighted how the IEA is working with countries around the world to support energy security in the face of the current major disruptions.
