Energy in the Era of the New Geopolitics
The global energy system is constantly changing: rising consumption in developing countries, the growing role of electricity, vulnerabilities in supply chains, and the environmental implications of energy policy choices. The security of the system and the substantial investments required in the future can only be ensured through international cooperation, as exemplified, among other mechanisms, by the International Energy Agency.
The world remains hungry for energy. It is a crucial input to modern economies and fuels welfare improvements for the billions of people in developing countries. The secure, affordable and sustainable flow of energy is a core concern of national policymakers everywhere. At the international level, policymakers recognize that energy security requires cooperation. For this reason, they have invested in international organizations like the International Energy Agency (IEA), which was established in 1974 after the first oil shock with a mandate to support the energy security of its member countries. However, the energy system is changing, and with this change, the nature of energy security is also shifting. Four major trends are restructuring the global energy system.
Firstly, emerging markets and developing economies have become a larger share of global energy consumption. In 2000, they accounted for less than half of global energy demand. Today, they account for two-thirds, and more than half of global consumption of both oil and natural gas.
Secondly, electricity is becoming more important both to the energy system and to the global economy –a trend the IEA has dubbed the emerging “Age of Electricity”. Today, electricity accounts for around 20% of global energy consumption, with the remainder being made up of oil products, natural gas, coal use in industry, and direct use of renewables such as bioenergy. However, electricity disproportionately powers high value-added service sectors and advanced manufacturing, and is a critical enabler of communications and public services. For this reason, electricity directly powers sectors accounting for around 40% of the global economy and indirectly enables almost all economic activity through its role in communication networks. Electricity security has therefore moved the center of energy security. [...]
Article Outline
- Oil and Natural Gas Security
- Outlook for Demand in The Context of Energy Transitions
- Investment in New Supplies
- Import Dependency and Maritime Chokepoints
- Electricity Security
- Entering the Age of Electricity
- Generation Adequacy
- Electricity System Flexibility
- Resilience to Extreme Events
- Technology Security
- Critical Minerals
- Energy Technology Supply Chains
- Human Security: Climate Change and Energy Access
- Global Energy Sector Emissions
- Outlook for Climate Change
- Outlook for Energy Access
- Outlook: Towards a Holistic View of Energy Security
Laura Cozzi is Director of Sustainability, Technology and Outlooks at the International Energy Agency.
Thomas Spencer is a Senior Energy Analyst at the International Energy Agency.
Article published in Politique étrangère, Vol. 91, No. 2, 2026.
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Energy in the Era of the New Geopolitics
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