The government acknowledged this Monday “great concern” in the European Union (EU) about the energy impact of tensions in the Middle East, although it guaranteed that Portugal has 90% of gas and oil reserves capable of supplying energy to the country “for a week”.
“There is concern here about what is happening in the Middle East and how it might affect energy prices. We are very concerned. However, in the case of Portugal, our reserves are almost full – both gas and oil. “But they are finite and exhausted,” said Environment and Energy Minister Maria da Graça Carvalho.
In particular, “we have almost 90% of the reserves” of gas and oil, which “will last for several weeks,” said the person in charge, speaking to the Portuguese press in Brussels on her “debut” at the helm of power in Brussels. The capital of Belgium at an informal meeting of EU energy ministers.
The minister expressed hope that a crisis situation would not arise, in particular due to new community legislation for the energy sector: “Let’s hope that this does not happen, but we are more prepared.”
At the moment, according to Maria da Graça Carvalho, additional measures to be taken are not yet being considered, especially since “in recent days there has been a slight drop in the price of a barrel of oil,” but this will be “necessary.” be careful and watch.”
On the gas side, there are concerns that broader conflict in the Middle East could jeopardize liquefied natural gas flows, and such concerns could lead to market instability.
The same concerns apply to oil, since the crisis in the region could lead to production cuts in Iran and Saudi Arabia, the two main producing countries.
Iran launched an attack on Israel on Saturday night and early Sunday using more than 200 “drones” (unmanned devices), cruise missiles and ballistic missiles, the vast majority of which were intercepted, according to the Israeli army.
EU dependence on crude oil and petroleum products rose to a new high of 97.7% in 2022 after falling to 91.6% in 2021, according to Eurostat data, it emerged today.
Author: Lusa
Source: CM Jornal
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