Electrification

If the Strait of Hormuz is closed indefinitely, Europe and the rest of the world will face dire consequences, International Energy Agency chief Fatih Birol told Euronews in an exclusive interview.

While earlier EU climate strategies focused primarily on cutting greenhouse gas emissions, the forthcoming electrification plan recasts the issue as one of economic competitiveness, highlighting its potential to reduce reliance on fossil fuel imports, according to a document seen by Euronews.