Hello and welcome to the details of No shortage yet, but EU moves to secure jet fuel supplies from US and now with the details
Nevin Al Sukari - Sana'a - Europe considers fuel reserves amid fears of jet fuel shortages. — Unsplash pic
BRUSSELS, April 21 — The European Union said Tuesday that it was considering importing more jet fuel from the US and requiring member states to hold minimum reserves as the Middle East war squeezes supplies.
While saying there is no evidence of “actual shortages” currently, EU transport commissioner Apostolos Tzitzikostas said stocks were “under pressure” in parts of Europe, and the bloc needed to be prepared.
“We are working on securing an alternative jet fuel supply for Europe, such as type-A jet fuel produced in the United States,” Tzitzikostas said at a press conference after video talks between EU transport ministers.
Type-A is primarily used in the United States due to differences in standards and compatibility issues with aeronautical infrastructure.
The European Commission is “assessing” how the fuel could be used in Europe, Tzitzikostas said.
- No emergency, yet -
The effective closure of the Strait of Hormuz by Iran has sent energy prices soaring and threatened supplies of jet fuel across the globe.
About 20 percent of aviation fuel consumed in the 27-nation EU relies on imports via Hormuz, according to the European Commission.
“Europe maintains emergency stocks. These stocks can be and will be released only if necessary. At this stage, however, the market is managing the pressure, and there is no evidence of actual shortages,” Tzitzikostas said.
But Brussels will lay out a series of measures to deal with the crisis and its potential protracted effects on Wednesday, he added.
They include guidance on “flexibilities” allowed by current rules on the handling of airport slots and of anti-tankering -- provisions limiting how much fuel a plane can uplift.
Guidance on passenger rights and public service obligations are also planned.
“We must also be ready for any future shocks, so we will assess whether we need a minimum stock obligation for jet fuel, requiring member states to maintain a minimum emergency reserves,” Tzitzikostas said.
The prospect of jet fuel shortage has rattled the aviation industry as the Northern Hemisphere summer travel season approaches.
Some airlines have already suspended flights or imposed fuel surcharges since the fuel cost increases.
The head of German logistics group DHL, Tobias Meyer, journalists Tuesday that his company had a supply of jet fuel assured in Europe for May and June, but “what happens beyond is hard to forecast”. — AFP
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