IEA's Birol Calls Hormuz Crisis Largest Energy Security Threat Ever
COP 31 Presidency Events • United NationsNovember 12, 2026
Locunity is an independent informational service and is not an official government page for this commission. All information is sourced from public footage and an analysis of official agendas with the aid of responsible, fact-checked AI. to report an error or omission.
The head of the International Energy Agency (IEA) told a COP31 Business Forum audience on Nov. 12, 2026, that the Strait of Hormuz shock is the gravest energy security threat on record. He argued that it is reshaping trade alliances. At the Bank of America-hosted panel, Türkiye's finance chief, energy executives and lenders presented electrification as a security strategy and pressed for a pledge to reach 35% electrification by 2035. They also named the grid and financing bottlenecks that could stall that goal.
- Hormuz crisis is "largest energy security threat in history," IEA chief says
- Türkiye spent about $600 billion on oil and gas imports over 10 years
- 35-by-35 electrification pledge gains backers as 98 heads of state or government attend
- 2,500 GW awaiting grid connection, National Grid CEO says, citing an investment gap
- Lenders and investors call for guarantees and regulatory stability to unlock projects
The basics: The Strait of Hormuz is a narrow shipping channel at the mouth of the Persian Gulf and a key route for Gulf oil and gas exports. No votes or binding decisions were taken at this panel. It was an informational session within the COP31 presidency's events program.
Get reports in your inbox
Follow this commission for free and get the next report delivered by email. You'll be able to access the full archive, get real-time updates, and track the topics or keywords you care about most.