EU: “No evidence of a shortage of jet fuel, but we must be prepared”

Brussels – “We are closely monitoring the situation” regarding aviation fuel,” together with Member States and industry partners. I would, however, like to emphasise that Europe maintains emergency stocks. These stocks can be released if necessary. At this stage, however, the market is managing the pressure, and there is no evidence of actual shortages.” This was stated by the European Commissioner for Transport, Apostolos Tzitzikostas, at the press conference following the informal meeting of EU transport ministers on the energy crisis. “Nevertheless, we must be prepared.
Tomorrow, we will set out our plans to help to shield Europeans from the impacts of the fossil energy crisis.

 Coordination is key,” and “a new Fuel Observatory will monitor the supply and stock levels of transport fuels,” he added. 

“We will start with jet fuel. We are working to secure an alternative supply of jet fuel for Europe, such as Type A jet fuel produced in the United States. And should any real supply issues arise,
our emergency stocks must be put to the best use,” explained the Commissioner. “Any national release of fuel must be done in full transparency to avoid market distortions,” Tzitzikostas added. 

“In addition to the current crisis, we must also be prepared for any future shocks. We will therefore assess whether a stockpiling obligation for jet fuel is necessary, requiring Member States to maintain minimum emergency reserves. Our legislation already
has many built-in flexibilities,” he continued. “However, we understand that the sector needs reassurance and clarity. We will therefore provide guidance on these flexibilities, particularly regarding airport slots, anti-tankering, public service obligations, and passenger rights.
If the situation worsens and these flexibilities are no longer adequate, we will propose temporary changes to the legislation,” the Commissioner noted. 

Finally, Tzitzikostas reiterated that “jet fuel is part of a global market involving production, imports, and stocks” and that “Europe also has significant domestic refining capacity.” In the current situation, “jet fuel markets are currently tighter than normal.

Commercial aviation fuel stocks are under pressure in some parts of Europe,” the Greek Commissioner clarified.