International Energy Agency (IEA)

News- At the recent annual ministerial meeting in Paris, the IEA welcomed progress on India’s request for full membership of the organisation.

About International Energy Agency (IEA)

• IEA is an autonomous intergovernmental organisation within the OECD framework working on energy security and sustainable energy cooperation.
• Establishment: It was established in November 1974 in response to the global oil crisis.
• Headquarters: It is based in Paris.

Core Mandate

• It maintains systems to address oil supply disruptions.
• It promotes rational global energy policies and cooperation.
• It monitors international oil markets and energy trends.
• It supports energy technology collaboration and policy integration.

Membership Criteria

• Membership is limited to OECD countries.
• Countries must maintain oil reserves equal to 90 days of net imports.
• They must have emergency response measures and reporting systems.

Governance & Structure

• Governing Board: It is the main decision-making body, composed of Energy Ministers or their representatives, and its decisions are binding on members.
• Ministerial Meeting: It is held every two years to set strategic priorities and guide future work programmes. 
• Standing Groups: The IEA has four Standing Groups — Long-Term Co-operation (SLT), Emergency Questions (SEQ), Oil Market (SOM), and Global Energy Dialogue (SGD).
• Committee: The Committee on Energy Research and Technology (CERT) supports technology development and cooperation.

Major Reports & Publications

• World Energy Outlook, World Energy Balances, Energy Technology Perspectives, World Energy Statistics, and Net Zero by 2050.

India and the IEA

• Status: India became an Associate member in 2017.
• Strategic Partnership: India seeks full membership, which requires changes to the IEA’s founding legal framework.