In Good Company with Nicolai Tangen Fatih Birol: Global Energy Under Pressure, Europe's Mistakes and the Age of Electricity
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Apr 1, 2026 Fatih Birol, Executive Director of the International Energy Agency and a leading voice on energy security and the clean transition. He discusses why the Middle East crisis is the biggest energy shock, limits of strategic oil releases, Europe’s historic energy missteps, the rise of electrification and grids as the new battleground, and how cheap power will shape AI and industrial competitiveness.
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Reopening Russian Gas Flows Is Unlikely
- Restoring Russian pipeline gas is unlikely due to technical, economic, and strategic reasons.
- Birol points to damaged Nord Stream, lack of Nord Stream 2 licensing, oil-indexed pricing, and the strategic lesson against renewed over-reliance.
Crisis Will Reshape Energy Mix In Multiple Directions
- The crisis will likely accelerate nuclear, electrification, and renewables while possibly boosting coal short term.
- Birol expects a nuclear comeback, rapid EV uptake, faster renewables with batteries, and potential coal use in China/India as a gas-price response.
Build Grids Before Adding More Renewables
- Prioritise grid capacity buildout and streamline permitting to deliver renewable power to users.
- Birol warns many solar/wind projects sit idle because transmission isn't expanded; governments must create investor-friendly frameworks and faster licensing.