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European transport ministers are exploring options to import jet fuel from alternative supplies such as the United States amid potential shortages across the continent. Ongoing disruptions in the Middle East and production cuts in several oil-rich countries have limited the market, Transport Commissioner Apostolos Tzitzikostas told reporters on Tuesday.
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The announcement comes as the head of the International Energy Agency, Fatih Birol, warned that jet fuel in Europe is in short supply, a claim backed by several European airlines that have warned it could lead to flight cancellations. The warning has so far been downplayed by the European Commission, which argues that flight cancellations “have nothing to do” with shortages but rather with the airlines’ own lack of profitability.
EU refineries account for roughly 70% of the bloc’s jet fuel, with the remainder usually imported from the Middle East. With the effective closure of the Strait of Hormuz, a critical shipping lane accounting for roughly 20% of all oil and natural gas transit globally, due to the United States and Israel’s strikes against Iran on 28 February, fuel exports to Europe have been disrupted, prompting EU countries to take action to ensure continuity.
Germany has convened a national security council to discuss potential shortages, while Spain has said it backs a potential EU jet fuel sharing agreement as new inflows from the United States and Nigeria are expected to arrive in Europe, according to global trade intelligence firm Kpler.
Cyprus’ Minister of Transport Alexis Vafeades told reporters on the sidelines of an emergency meeting of Europe’s transport ministers on Tuesday that the current situation is “not dangerous”, but leaders are considering acting quickly and appropriately, including the use of emergency stocks, “if real supply issues arise”.
“Any national release of [jet] fuel must be done in full transparency to avoid market distortions,” Vafeades urged, to prevent EU countries from hoarding fuel and causing price spikes.
European Commissioner Tzitzikostas told reporters that “there is no indication as of today” that there will be widespread flight cancellations in the weeks or months to come.
Avoiding queues at gas stations
While the aviation sector was the focus of discussions, ministers also addressed measures to avoid queues at fuel stations and “neutralise” demand by encouraging people to use public transport and electric bikes and vehicles, according to Vafeades.
“We need to be ready to avoid queues at the gas stations if this ever happens, but we also need to permanently do away with the possibility of queues at the gas station,” he added.
Ministers then discussed growing concerns over possible diesel and jet fuel shortages due to the war in the Middle East, a call previously made by Energy Commissioner Dan Jørgensen who urged Europeans to cut oil and gas demand and for countries to remain united.
The Cypriot transport minister, running the meeting representing the rotating EU Council Presidency, stressed that a scenario of fuel shortages is only a “possibility” under consideration, as it could affect economic connectivity and disrupt people’s lives. “We need to be aware. We need to be ready. That’s the point here,” Vafeades added.
Kpler energy analyst George Shaw said that diesel and petrol exposure is real but “manageable”.
“Even under reduced Gulf flows, the combination of domestic refining, transatlantic arbitrage, and a structurally diverse import slate will keep diesel supplied,” said Shaw.
The Commission will present a set of measures on Wednesday to protect people and businesses from soaring energy prices, including measures to boost the production of sustainable aviation fuels and offset shortages from the Middle East.
The debate will likely be held on 23 April during an informal summit of EU leaders in Cyprus.
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