The conception of energy security arose as a result of the 1970s oil crisis, which raised awareness of the subject and prompted the establishment of the International Energy Agency (IEA), whose main aim is to support the stability of the global energy supply. Energy security has varied over time, but the underlying concept of a reasonably affordable and reliable energy source for the foreseeable future has remained consistent. The Intergovernmental Panel on Climate Change (IPCC) has a more comprehensive definition: “Energy security: The goal of a given country, or the global community as a whole, to maintain an adequate energy supply. Measures encompass safeguarding access to energy resources; enabling development and deployment of technologies; building sufficient infrastructure to generate, store and transmit energy supplies; ensuring enforceable contracts of delivery; and access to energy at affordable prices for a specific society or groups in society.” 

Essentially, a nation should be able to function despite short-term disruptions in energy supplies. Some fundamental challenges must be addressed to achieve this stability and energy security: Energy source diversification, the timeliness and quality of information flow, collaboration between and among consumers and producers, investment, development and research, and technical advancement. These principles must be addressed to assure long-term energy market and supply stability and to deal with short-term shocks such as terrorist attacks, grid breakdowns, harsh weather conditions, and other such catastrophes.