Spain says it would actively participate in potential EU jet fuel sharing
Spain would actively participate in a potential European Union plan to share jet fuel stocks and sees joint purchases as an option in the current context, its Energy Minister Sara Aagesen said on Monday.
The U.S.-Israeli war with Iran and Tehran's retaliation have sparked a supply crisis, with European airlines calling on the EU to deploy emergency measures to address growing concerns over jet fuel shortages.
"Spain has always demonstrated its commitment to solidarity and working together. We will see what the proposal entails and we will participate actively," Aagesen said.
Aagesen said a joint purchasing platform would help increase purchasing power and allow countries to offer more affordable prices, an option she said she expected the European Commission to consider.
Thanks to its fleet of refineries and supplies coming largely from the Americas and North Africa, Spain was better placed to weather a supply crisis compared to other European countries, she said.
Spain's refiners have increased output by up to 60% from their normal levels at some facilities, allowing Spain to approach the busy summer season with kerosene stocks at maximum levels, she said.
Spain and other countries are waiting for a response from the European Commission to a letter calling for a windfall tax on energy companies' profits, she said.
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