Germany on Alert Over Jet Fuel Crisis... Requests Support from Israel
Germany Faces Supply Disruption Concerns Amid Middle East War
The German government has requested support from its ally Israel amid concerns about a potential jet fuel supply disruption resulting from the aftermath of the Middle East war.
According to weekly magazine Der Spiegel and other sources on the 6th (local time), Germany's Federal Ministry for Economic Affairs and Energy has requested the supply of jet fuel and natural gas from Israel, based on their existing energy partnership. In response, the Israeli government announced on the same day that it plans to supply jet fuel to Germany and will also consider providing natural gas.
This measure comes in response to mounting concerns over energy supply instability caused by the blockade of the Strait of Hormuz. Energy experts have warned that if the Strait of Hormuz remains blocked, a jet fuel shortage could become a reality within a few weeks. Germany has depended on the Middle East for approximately 70 to 75 percent of its jet fuel imports, but the blockade of the Strait of Hormuz has disrupted the supply chain. However, the German government maintains that, as jet fuel is refined at domestic refineries, a severe physical shortage is unlikely to occur.
Meanwhile, the burden on the global airline industry is mounting rapidly as jet fuel prices have soared compared to pre-war levels. According to aviation analytics company Cirium, airlines worldwide have canceled about 13,000 scheduled flights for this month.
Hot Picks Today
"Big Gains for Holders... Up 566% and Still More to Go" Target Price Raised, But Here’s Why Caution Remains [Weekend Money]
- "Data Centers Ignite ESS Order Rally Expectations for This Company [Weekend Money]"
- "Achieving 1 Billion Won Through Stocks" Office Worker Remains Optimistic Despite Mandatory Paid Leave and Halved Salary
- Three Shenzhou Astronauts Safely Return to Earth After Setting China’s Longest Space Mission Record
- "Best Homeroom Teacher"... Hong Kong Education Sector in Shock Over Spread of "Princess Carry" Photos
In particular, the global air network is being significantly shaken as airports in the Gulf region—which have served as key hubs connecting Europe and Asia—have been closed. Middle Eastern airlines such as Emirates, Etihad Airways, and Qatar Airways have readjusted their flight schedules for May, canceling or reducing certain routes. Major airlines including British Airways, United Airlines, Air China, and All Nippon Airways (ANA) are also adjusting their routes and flight operations in response.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.