| dc.description.abstract | The creation of the International Energy Agency (IEA) in 1974 was conducted under very particular institutional and geopolitical circumstances. It was a time when relations in global energy were defined largely by the rivalling factions of oil producers and consumers. After producer-consumer animosity culminated in the oil shock of 73’, the major consumers were plunged into chaos, and as a direct response, they established the IEA. Its primary purpose: to correct shortcomings in energy security among consumers by providing safe supply of oil to its member countries. Since the agency’s early years, however, significant changes and developments have taken place in global energy. The demands for institutional governance of energy at a global level has expanded significantly beyond that of oil security, and a host of energy institutions have come into play to address this. As a result, the IEA now operates in a crowded institutional environment, rather than being largely the only major energy institution working with consumers. Additionally, the IEA represented in its early years consumers who stood for the vast majority of global energy consumption. As global energy turns increasingly multipolar, spearheaded by emerging consumers such as China and India, the IEA’s share in global energy has diminished significantly. These developments have jeopardized the original functions of the IEA. In my analysis, I assess the effects these changes have on the IEA. I find that, while taken at face value they appear to threaten to render the organization increasingly redundant, the reality is not as bleak. While the agency has undergone no reforms and experienced little to no formal changes in its structure, they have recognized these developments and taken considerable steps to address them. In many ways, the changes present the IEA with a great opportunity to cement its position as a central institution in global energy. Yet, owing to significant path-dependence and various factors that can be traced back to the circumstances surrounding its creation, the IEA is also left with considerable challenges in the years ahead. With this study, the aim is to contribute to the growing body of literature on the IEA and global energy governance. | eng |