Fatih Birol: Countries producing electricity at low cost will lead in competitiveness
International Energy Agency President Fatih Birol stated at a summit in Istanbul that the world is entering an age of electricity, highlighting the decisive impact of energy costs on global competitiveness.
Speaking at the Istanbul Global E-Export Summit, International Energy Agency President Fatih Birol stated that geopolitical risks in energy markets are forcing countries to develop new policies. Birol emphasized that cost and efficiency in electricity production will be the fundamental criteria for countries' future economic success.
Geopolitical Risks in the Energy System
Fatih Birol stated that geopolitical risks in the Russia-Europe natural gas pipelines and the Strait of Hormuz, which he described as the jugular vein of the energy system, have caused countries to reconsider their energy strategies.
The Age of Electricity and Technological Transformation
Stating that the world is entering a new age of electricity, Birol expressed that artificial intelligence, data centers, and electric vehicles are the primary driving forces behind the increasing energy demand.
Placing special emphasis on the energy needs of data centers, Birol stated that artificial intelligence technologies cannot develop without electricity supply.
Investments and Grid Management
Noting that the annual investment amount of the five major technology companies in the US for data centers has reached 700 billion dollars, Birol stated that artificial intelligence could also enable more efficient management of energy grids.