European Commission Sees No Immediate Threat to Energy Supply Despite Collapse of US-Iran Ceasefire
The European Commission says it does not see a threat to Europe's energy security for the next heating season, even though the failure of the US-Iran ceasefire renews uncertainty about prices and availability of energy resources from the Persian Gulf region.
The European Commission has stated that it currently does not see any threat to energy supply for the upcoming heating season in Europe, despite the collapse of the ceasefire between the United States and Iran, which has renewed uncertainty about energy prices and the availability of resources from Gulf countries.
During a daily briefing in Brussels, EC spokesperson Anna-Kaisa Itkonen responded to journalists' questions about whether the Commission was concerned about supply security given the situation in the Middle East and the fact that European countries ended the season with lower gas reserves after an exceptionally cold winter.
"At present, we are not concerned about supply security. From the beginning, the main concern was the impact on prices… You are right that current gas storage levels are somewhat lower than the pre-crisis averages, but they are not a reason for immediate concern about our energy security," Itkonen said.
She recalled that under EU rules, gas storage at 80% capacity is considered sufficient to safely get through the heating season. "Member states have the appropriate capabilities, and gas is available to reach 80% – which is considered an adequate level for the start of winter," the spokesperson added.
Earlier reports indicated that Europe could enter the winter with the lowest gas reserves in 15 years. On July 8, US President Donald Trump announced that the framework agreement with Iran on the cessation of hostilities had lapsed.
