The UK is going to be hosting a new conference to focus on global energy security. The landmark event will bring together industry leaders and international governments to discuss key issues on energy security and seek innovative new solutions. The focus will be on accelerating renewables adoption, boosting energy security of supply to Britain, developing nuclear and finding the best way to support gas and oil production in the North Sea.
Various countries will come together to work out ways to make the global energy system more resilient against unexpected shocks and to shore up critical supplies of energy. Invites will be issued by Grant Shapps, the energy security secretary. The conference timing marks two years of Russia's invasion of Ukraine, which flagged up just how interlinked the world's global energy system is. Consumers across the globe have felt the impact of war through higher energy bills.
The UK is seeking to create this new conference to prevent this situation from occurring again and to build global resilience against energy shocks by boosting international energy cooperation. The conference will follow a push to build engagement, led by Grant Shapps. In recent months, Shapps has worked to enhance collaboration via visits to Japan, India, the United States, France and Belgium. These have led to key talks with leaders at the G7 summit, COP27 and G20, amongst others.
Next year's conference will build on other existing work designed to build domestic energy security through measures to diversify the energy mix and unlock benefits for worldwide global security in the process. The government has already shared plans to move forward in this area by boosting domestic nuclear, scaling up low-cost renewables and also forging ahead with North Sea oil and gas.