The European Union is well prepared thanks to the obligation of member states to maintain oil stocks and to have crisis plans in response to incidents related to security of supply. EU member states also contribute, by approximately 20%, to the release of more than 400 million barrels of emergency oil stocks coordinated by the International Energy Agency (IEA).
Commissioner for Energy and Housing Dan Jørgensen said: Security of supply to the European Union remains guaranteed. However, we must be prepared for a potentially long-term disruption in international energy trade. That is why we must act now. We must act together, as a true Union. Only by working together can we be stronger and more effectively protect our citizens and businesses.”
In a letter addressed to all EU energy ministers, the commissioner called on member states to make full use of meetings within the Petroleum Coordination Group and the Energy Union Security Working Group to ensure good coordination and to consider promoting demand-saving measures, with a particular emphasis on the transport sector, as advised by the International Energy Agency in its 10-point plan to reduce oil use.
Strong monitoring, rapid information exchange mechanisms and coordination remain key. Any urgent risks or significant changes in oil supply and industrial conditions, including commercial stocks, should be monitored and reported to the Commission to ensure continuous assessment and coordinated action.
In the same spirit, member states should refrain from taking measures that could increase fuel consumption, limit the free flow of petroleum products or discourage the production of refineries in the EU. They should also consult with neighboring Member States and the Commission in order to preserve EU-wide coherence and the functioning of the internal market.
In order to protect the availability of petroleum products on the EU market, any non-urgent refinery maintenance should be postponed. At the same time, increasing the use of biofuels could help replace fossil oil derivatives and reduce pressure on the market.
(Vijesti.ba / FENA)
