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Mumbai, Aug. 30 The last four years saw energy production and consumption shift away from the Organisation for Economic Co-operation and Development (OECD), with the dramatic emergence of China, followed soon by India, as a major player in the global energy market. This development has been unprecedented in both magnitude and speed, according to Mr Claude Mandil, Executive Director of Paris-based International Energy Agency (IEA).

The upcoming World Energy Outlook 2007 will study this phenomenon and its potential implications. While Russia has consolidated its position as a dominant oil and gas producer, the Organisation of the Petroleum Exporting Countries (OPEC) continues to control the largest reserves.

On the other hand, OECD production is on the decline, with the exception of non-conventional resources. Meanwhile, many poor developing countries suffer from inadequate access to energy. In this scenario, unless new policies are adopted, our current path is simply unsustainable, said Mr Mandil.

Currently, there is greater global awareness and acceptance that climate change is an urgent challenge that requires concerted action now, the expert warned.

The IEA did good work in assessing policies and technologies necessary to mitigate the impact of climate change. Energy efficiency must play a key role and any mitigation efforts must include all major economies, both within the IEA and G8 and beyond, asserted Mr Mandil who is laying down office. Mr Nobuo Tanaka will take over as the new executive director of IEA from September 1.

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