Discussing Chile’s possible accession to the IEA with officials from the South American country, the Agency’s Deputy Executive Director William Ramsay told BNamericas that “in the context of Chile becoming a candidate for the OECD, we have obviously sent out feelers to see what the country is thinking about its eventual association with the IEA”. He specified that, to join the IEA, Chile would need to accumulate strategic stockpiles equivalent to at least 90 days of net oil imports.

The newspaper is running a special report on clean energy and refers to the IEA publication Promoting Energy Efficiency Investments which calls on governments to improve energy efficiency. “It is by far the most cost-effective way to deliver increased energy security, reduced energy costs and a cleaner environment”, The Australian quotes the IEA, highlighting that buildings can play a key role as they are responsible for 40 per cent of global energy consumption and 24 per cent of CO2 emissions.

The current surge in oil prices prompts warnings of global recession, the newspaper writes and quotes IEA Executive Director Nobuo Tanaka as saying at the International Energy Forum (IEF) in Rome that he had “some concern” that the price hike is having “a negative impact on economic growth”.

WPS is running a story on the decline of Russian oil output in the first quarter and warnings that state intervention could hamper further investment growth. Alluding to the takeovers by the state-controlled companies Rosneft and Gazprom, IEA oil supply analyst David Fyfe told WPS that a lot will depend on the companies’ “ability to begin new developments in east Siberia and the Arctic. But they have huge amounts of debts and we are now in an environment where globally credit is scarce”.

Asked about the recent decline in Russia’s oil output, IEA Deputy Executive Director William Ramsay explained that it was largely due to heavy tax burden on the oil industry and uncertainty over foreign access to new fields, partly related to the positioning on gas exploration on Sakhalin-1. Yet, he said “we think it (the situation) can be reversed if investment conditions were more amenable to generate investment”.

Explaining the IEA reduction in estimates for growth in world oil demand in the Agency’s April Oil Market Report, Mr. Lawrence Eagles, head of the IEA Oil Market division, said “It’s the biggest downward revision we’ve had on demand growth since the September 11 attacks.” Key to the downward revision is the United States’ lower economic-growth prospects, which the International Monetary Fund slashed Wednesday to just 0.5% this year, from 1.5%.

The Tribune asked IEA Head of the Energy Efficiency and Environment Division Richard Bradley for ideas on the most effective ways for individuals to save energy to stem climate change, and quotes him as saying: “Turn off the computer screen when it’s not in use, even if the computer stays on”. In your home, “install better insulation and double-glazed windows, and paint in a light colour. Install a ceiling fan. And take a look at the energy efficiency rating of home appliances before making a selection.”

Covering the release of the IEA report Promoting Energy Efficient Investments – Case Studies in the Residential Sector, the newswire quotes IEA Executive Director Nobuo Tanaka as saying that “with surging energy consumption, high energy prices and rising CO2 emissions, the imperative to improve energy efficiency is stronger than ever”. According to the IEA study, an impressive amount of energy, used to heat and cool houses and apartments, could be saved simply by applying energy-efficient technologies and practices.

IEA Executive Director Nobuo Tanaka said that capturing and storing greenhouse gases from power plants may be less costly than many energy companies estimate. “In terms of the power sector, cutting carbon emissions by CCS will cost about USD 50 per tonne,” Mr. Tanaka added, “At least 20-30 projects should get started as soon as possible.”

Concerned about Gazprom’s move to reduce supplies to Ukraine, IEA Deputy Executive Director William Ramsay told Russia Today that cutting supplies is not the way to solve the row. “What we are saying is there are gas contracts between European consumers and Russia, and it’s important for Russia and Ukraine to keep their commercial disputes out of the pipes of the downstream customers”, Mr. Ramsay said.

Responding to rumours that OPEC might curb oil output at its next meeting in March to match demand, IEA oil analyst David Fyfe is quoted as saying “we see end-user demand tending to ease in the spring but that does not necessarily mean the market does not require more crude oil in order to replenish inventories”.

Asked about oil’s historic close at over USD 100 per barrel, IEA oil market analyst Julius Walker said “it appears there is a confluence of fundamentals influencing the market. Markets are tight, stocks are low and geopolitical factors remain a concern”.

Interviewed at the launch of the African Energy Commission (AFREC) by the Algerian newspaper El Moudjahid, the IEA Head of Statistics Division, Jean-Yves Garnier, said that a growing part of the future oil supplies will come from the Middle East, and a non negligible portion also from Africa. He said that the establishment of AFREC was an important step in the development of the energy sector in Africa.

At the launch of the IEA Energy Policy Review of the United States – 2007 the report’s main author, Andreas Biermann, said that the U.S. delay in setting a carbon price is disrupting an effort to improve energy security. “ If you want to have the investment that guarantees security in the future, you need to go forward now.” He noted that investments in new power plants could be significantly delayed, depending on how long companies must wait for a clear price signal from the government.

Speaking at an annual energy conference, IEA Executive Director Nobuo Tanaka emphasised the “urgent need” to strengthen spending on (oil and gas) exploration and production. “Surging prices, diminishing recoveries and, in some cases, poor data on remaining reserves are fuelling concerns among some about the availability of the hydrocarbons reserves base”, Mr. Tanaka said.

Asked to comment on the recent gas payment row between Gazprom and Ukraine, IEA Deputy Executive Director William Ramsay urged “all parties involved to solve the dispute as soon as possible”. He said that “other customers who are paying very high prices for their gas” had every right to demand that this issue had no implications for their supply.

Running a story about energy efficiency, the newswire is quoting IEA Analyst Paul Waide as saying that “governments have ramped up ambitions on [energy efficiency] in a very short time, but it's being done from a relatively low base so there are a lot of capacity issues that need to be addressed to deliver this”. According to the IEA, if energy-efficiency policies under current consideration were fully implemented, global energy demand would be reduced by 11% in 2030.

IEA Executive Director Nobuo Tanaka is quoted as saying that major oil consumers are concerned by the price of oil which hit a record earlier this year. “It is a very high price, showing the market is still tight”, Mr. Tanaka said to Reuters in Davos and added “we think that the current level of stocks is worrisome”.

Senior IEA analyst Dolf Gielen is quoted as saying that Iceland “has a very exotic energy system where hydrogen could make sense”. He was commenting on Iceland’s aspiration to become the first nation to break free from the constraints of fossil fuels by using hydrogen. Two-thirds of electricity in the country is already derived from renewable sources, which has allowed it to break new ground in hydrogen testing.

Fatih Birol, IEA Chief Economist, underscored the importance of developing Turkmen gas reserves but warned “if they have investment, they shouldn’t change the conditions or allow for double standards”.