Astolos Tzitzikostas presents AccelerateEU with measures on reserves, alternative supplies and coordination of states in a possible fuel crisis.
At a time of increased pressure on international markets energy and intense geopolitical turbulence directly affecting the European aviation industry, the European Commission is developing a new framework for the prevention and management of potential aircraft fuel shortages. At the centre of the developments is Apostolos Tzitzikostas, who is promoting a more coordinated and binding mechanism among the European Union member states, with the aim of creating strategic stocks, enhancing transparency in crisis management and ensuring alternative sources of supply. The AccelerateEU plan under development attempts to respond to price increases and supply disruptions, laying the foundations for a more resilient and energy secure European aviation, at a time when fuel market pressures have already started to affect flights and operational decisions of airlines.
The European Union is considering measures to ensure aircraft fuel sufficiency, with Transport Commissioner Apostolos Tzitzikosta saying member states may be asked to share stocks in the event of a supply crisis.
Emergency stocks
As he said during a briefing after a teleconference with EU transport ministers, the Union maintains “emergency stocks” of jet fuel, which “can and will be made available only if necessary”.
At the same time, he stressed that any national decision to release stocks should be made in full transparency to avoid distortions in the market.
Asked on the sidelines of the meeting whether member states should be obliged to coordinate and share fuel stocks, Mr. Tzitzikostas said that “what is currently voluntary could become mandatory,” but clarified that “there is no reason to panic” about the availability of fuel in the EU.
He noted that the European Commission would consider introducing a minimum obligation for aircraft fuel stocks, which would require member states to maintain certain levels of strategic stocks.
Creation of a new fuel observatory
The Transport Commissioner also announced that the AccelerateEU project, which is expected to be presented on Wednesday in response to recent shocks in energy markets, will include the creation of a new fuel observatory, which will be launched with a focus on aviation fuel.
The plan also includes steps to secure alternative fuel supplies for Europe, such as Jet A fuel produced in the United States.
However, the fuel produced in the US differs from the international Jet A1 standard, making it difficult to increase imports to the EU. In addition, technical adjustments to infrastructure are needed to keep the two types of fuel separate, according to George Shaw, senior oil analyst at Kpler.
Aircraft fuel prices in Europe have more than doubled since the start of the war in the Middle East, which has led EU airlines to cancel flights that are no longer economically viable and to withdraw fuel-intensive aircraft.
Germany has said it will convene its National Security Council in the coming days to consider the situation over aircraft fuel.
