The International Energy Agency (IEA) is a semi-autonomous body of the OECD. It was established in 1974 following the first oil crisis with the initial participation of 16 countries, including Italy. Currently 31 of the 36 OECD countries are Members of the IEA (Iceland, Israel, Latvia and Slovenia are not members, while Chile has applied for membership and the related process is underway). The European Commission also participates in the work of the Agency without the right to vote. The main areas of intervention of the Agency include energy security, the transition to a zero-emission energy economy, the analysis of ongoing developments in energy markets and international cooperation on energy. The objectives of the IEA are to monitor the evolution of the world market for oil, gas and other energy sources and manage an information and study system of energy dynamics at an international level, ensure the supply of oil and petroleum products in emergency situations, assist Governments in implementing energy policies, promoting their sustainability, in addition to security. In order to involve a growing number of countries in IEA activities, a form of collaboration called “Association” has been defined, to which 13 countries have so far joined (Argentina, Brazil, China, Egypt, India, Indonesia, Kenya, Morocco, Singapore , Senegal, South Africa, Thailand and Ukraine) while 4 countries are in the process of joining.
The Agency’s most prestigious and renowned publication is the “World Energy Outlook”, which analyzes the dynamics of the global energy market – every year with different focuses – and forecasts medium-long term future scenarios. Periodic analyzes are conducted by the Agency on energy-related technologies, the oil market, renewable energies, energy efficiency and investments in the energy sector. The Agency also conducts comprehensive reviews of the energy policies of IEA/OECD Member Countries, IEA Member Countries and, upon request, Partner and Associated Countries. These reviews concern all the main forms of energy produced, imported and consumed in the country concerned and are complemented by recommendations aimed at facilitating the energy transition and promoting energy security. The latest periodic review relating to Italy was published in 2023. The main decision-making body of the Agency is the Governing Board which meets on average 3-4 times a year; the meetings of the Council at ministerial level usually take place every two years, with the aim of formulating the medium-long term program and defining the strategic lines of activity. The IEA is mainly financed by the Member States, through the payment of compulsory contributions to the budget. In terms of compulsory contributions, the United States, with 24.3% of compulsory contributions, is the main contributing country, while Italy is sixth with a share of 4.8%.