The International Energy Agency (IEA) has warned of an impending fuel shortage Europe warned. Supplies of aviation fuel may last for about six weeks, IEA chief Fatih Birol told the AP news agency. If they come in handy because of the Iran war blocked Strait of Hormuz If it remains closed and deliveries are not made, there could soon be flight cancellations.
Other experts recently also pointed out the consequences. The situation could become systemic within the “next three or four weeks,” warned economist Claudio Galimberti from the analysis firm Rystad Energy at the beginning of the week. Accordingly, there could be significant flight cuts as early as May and June. Flights have also already been canceled due to a lack of kerosene.
A spokeswoman for the European Commission stated on the same day that there was no evidence of a fuel shortage so far. She admitted, however, that there could be “supply bottlenecks in the near future,” particularly with aviation fuels.
“Biggest energy crisis we’ve ever faced”
The European umbrella association for airport operators (ACI Europe) wrote to the EU Commission. Accordingly, a kerosene shortage could occur from the beginning of May if the Strait of Hormuz will remain blocked until then. Several too European airlines recently warned of kerosene shortages within weeks.
However, in its monthly report on the oil market, the IEA named a later date. If the situation on the global aviation fuel market continues to deteriorate and European markets are unable to absorb the lack of deliveries from the Middle East, “inventories will reach the critical 23-day mark in June,” it said.
The closure of the Strait of Hormuz was the “biggest Energy crisis
“We’ve never had to deal with anything that we’ve ever faced,” Birol said. As a result, gasoline, gas and high electricity prices rose. The longer the situation lasts, “the more Things will get worse for economic growth and inflation around the world.”
Asia is particularly affected
Meanwhile, the European Union (EU) on an emergency plan against the impending kerosene shortage, which is to be presented next week. According to a draft available to the Reuters news agency, the refinery capacities in Europe are to be recorded and their full utilization is to be ensured.
Europe imports, according to data from the International Energy Agency (IEA) 30 percent of its aviation fuel needs. Around 75 percent of imports come from the Middle East. Refining capacity in Europe has fallen in recent years.
Rich: no shortage of kerosene in Germany
According to Birol, countries in other regions of the world are even more severely affected by the oil crisis. “At the forefront are the Asian countries that rely on energy from the Middle East,” he said, naming Japan, South Korea, India, China, Pakistan and Bangladesh.
Meanwhile, Federal Minister of Economics Katherina Reiche (CDU) emphasized that there are no impending shortages of aircraft fuel in Germany. “We have no shortage of kerosene here in Germany,” said Reiche. “By the way, kerosene is also produced in German refineries,” so the German economy is not just dependent on imports.