UEA President Birol: Warning of Tensions in Critical Minerals by 2026

Important Warnings from IEA President Fatih Birol for 2026

The President of the International Energy Agency (IEA), Fatih Birol, stated that the dominance of a single country in critical minerals poses a risk for energy security.

Birol expressed, "I believe there could be serious tensions regarding critical minerals in 2026," emphasizing that the global energy sector will face a difficult year in 2025.

Future Challenges in Critical Minerals

Birol drew attention to potential shortages in critical minerals this year, stating, "We use critical minerals in almost every part of our economy. We may face serious issues with minerals such as copper, zinc, and magnesium."

He highlighted the importance of adopting a diversification strategy by countries to ensure energy security, stating, "In critical minerals, there is a serious domination with a single country holding a 70-80% share. Being dependent on a single country is risky."

Turkey's Role and Opportunities

Birol noted Turkey's reserves in certain critical minerals and stated that Turkey could play an important role in processing these resources. He evaluated, "Turkey can develop in this field with experiences from other sectors."

Expectations in the LNG Market

Birol recalled the IEA's forecast of a supply surplus in the liquefied natural gas (LNG) market by the end of 2025, expressing that falling prices will yield positive results for importing countries like Turkey. He mentioned that more than 70% of the new LNG supply will be offered to the market through flexible contracts.

Global Energy Transition and Turkey's Steps

Birol emphasized that Turkey's progress in energy diversification is positive and that renewable energy sources need to be rapidly increased.

The Importance of COP31 and Turkey's Role

Birol stated that he believes COP31, which will be hosted by Turkey in 2026, will create a platform for sustainable energy solutions and climate finance, saying, "This conference is a great opportunity for Turkey to announce its climate policy to the world."