"The world is facing what could be said to be the most serious energy crisis in history, one that is testing the resilience of our economies, our societies, and our alliances." The Energy Commissioner, Dan Jorgensen, has been categorical in the press conference held on Tuesday in Brussels.
"Since the outbreak of the conflict in the Middle East, the European Union Member States have already spent over 30,000 million additional on fossil fuel imports without receiving any additional supply," continued the European Commission official, who thus increased the additional spending figure always provided by the Commission. A few days ago, President Von der Leyen placed the figure at 27,000 million.
Jorgensen has echoed the warning issued by the International Energy Agency just a few days ago, which also anticipated the same: "The biggest energy crisis in its history" as a result of the war in the Middle East. "The oil and gas markets will face serious difficulties," emphasized its director, Fatih Birol.
The Danish commissioner explained that it is "too early" to know when the situation in the Middle East will "normalize." "And even when that happens, I think we must be quite realistic and acknowledge that, even in the best-case scenarios, the situation will remain quite serious," he added.
Gas infrastructures, especially in Qatar, are so damaged that it will take "years" to recover production. "Oil will probably return sooner, at least in terms of production, but it will still take time to return to a more normal situation," Jorgensen continued.
"And, of course, the situation is unstable, and we do not know what the future holds. That is why we continue to prepare for scenarios where supply security issues may arise. We are not there yet, but it can happen, especially in the case of aviation fuel," that is, kerosene. The problem is very real and possible.
The Commission has established an observatory that monitors the amount of aviation fuel in Europe: "Who has it, what is imported, and what is exported," Jorgensen explained. The goal, he summarized, is "to be prepared if the time comes when political action in terms of coordination and redistribution of kerosene is necessary."
Just yesterday, the First Vice President of the Spanish Government and Minister of Economy, Carlos Cuerpo, also acknowledged in Brussels that there is a real "concern" about potential shortages. "We believe that this issue needs to be addressed before any signs start to emerge," he pointed out before participating in the Eurogroup meeting.
The Spanish government official noted that Spain has "an additional point of reassurance" regarding its supply. The reason: it is one of the EU countries least dependent on imports thanks to a "great refining capacity" and the ability to substitute it with other fuels. However, he emphasized the need for action now.
For example, the UK has authorized companies to consolidate flights and cancel routes without losing slots, which are take-off and landing rights. The British government indicates that there is still no "shortage," but it is necessary to start taking measures.