The European Union’s energy commissioner, Dan Jørgensen, cautioned Wednesday that while the bloc is not yet facing an immediate jet fuel shortage, the possibility of a longer-term scarcity cannot be excluded as the Iran war disrupts shipping through the Strait of Hormuz. The strait normally carries roughly one-fifth of the world’s oil, but fighting has caused fuel prices to spike and air carriers to reevaluate flight schedules, with some companies including Lufthansa’s owners canceling a significant number of flights.
“We’re not there yet,” Jørgensen told reporters in Nicosia, adding that the EU’s executive arm will begin talks with member states “on how best to address the situation,” without offering specifics.
Last month, International Energy Agency chief Fatih Birol told The Associated Press that Europe has “maybe six weeks or so” of remaining jet fuel supplies and warned of possible flight cancellations “soon” if oil flows remain blocked.
Jørgensen said the bloc has spent an additional €35 billion ($41 billion) for the same amount of fuel since the start of the Iran war, a figure he said underscores the urgency of moving away from fossil fuels. “Really, this is not an energy crisis. This is a fossil fuel crisis,” he said, noting that the EU has diversified its energy supply, become more efficient and added renewables since Russia’s 2022 invasion of Ukraine.
Cyprus Energy Minister Michael Damianos, whose country holds the EU’s rotating presidency, said natural gas will remain in the bloc’s energy mix for the foreseeable future even as the EU targets a 90% cut in greenhouse gas emissions by 2040. He said natural gas from deposits discovered off Cyprus’s southern coast could reach European markets by late 2027 or early 2028.
Jørgensen reaffirmed the EU’s commitment to rapid emissions reductions, saying “the climate crisis will not go away.” In the longer term, he said the bloc is in talks with Gulf nations about restoring energy flows after a negotiated peace with Iran.
Last month, EU Council President Antonio Costa and Commission President Ursula von der Leyen said the bloc was ready to work with Persian Gulf countries on new energy projects that “wouldn’t be held hostage to war or geopolitical strife.”