Energy executives highlight trust as key to new global energy map

During the Offshore Northern Seas (ONS) 2026 event in Stavanger, Norway, energy executives and leaders discussed the shifting global energy landscape. Fatih Birol, Executive Director of the International Energy Agency (IEA), emphasized that trust has become the most critical commodity in the current energy market.

Birol noted that geopolitical crises, including conflicts in Ukraine and Iran, are driving a real-time rewriting of the global energy map. This shift is characterized by a move away from prioritizing only the lowest prices toward a focus on security and diversification. The current geopolitical climate is expected to accelerate global electrification, driven by rising demand for electricity from data centers, electric vehicles, and climate control needs.

As nations seek to expand domestic generation, renewable energy sources and nuclear power are positioned as key components of this transition. However, Birol warned that changing strategic partnerships and the breakdown of previous energy collaborations present significant challenges for global stability.