MOSCOW (Pakistan Point News / Sputnik - 12th July, 2022) US Energy Secretary Jennifer Granholm and International Energy Agency (IEA) head Fatih Birol urged Asian countries on Tuesday to diversify their energy and essential minerals supply chains to reduce dependence on Russia and China.
"From an energy security point of view, it is imperative that nations that share the same values develop our own supply chains, not just for the climate but for our own energy security," Granholm said during a plenary session of the Sydney Energy Forum.
Granholm also warned against being too reliant on energy supplies from Russia and China, citing the disruption of Russian supplies and China's dominant role in the supply of technology and energy.
"We want to make sure that we are not as nations under the thumb of petro-dictators, under the thumb of those who don't share our values, under the thumb of those who would like to control strategic aspects of the supply chain," Granholm added.
Birol said that the current energy crisis caused by sanctions against Russia should encourage Indo-Pacific countries to focus more on divesting from fossil fuels. The IEA head added that countries planning new investments in fossil fuels over the next few years need to consider climate and business risks.
"We have to bring the gas, coal and oil demand down if we want to reach our climate targets," Birol added.
On February 24, Russia began a military operation in Ukraine, responding to calls for help from the breakaway republics of Donetsk and Luhansk. Western nations and their allies responded by imposing comprehensive sanctions against Russia, pledging to end their dependence on Russian energy supplies. Subsequent disruptions in logistical and financial operations have undermined supply chains and led to a spike in energy prices worldwide.
