Despite reports that the first oil tankers on their way to Europe have turned back to head for other destinations, German Federal Economy Minister Katrina Reiche (CDU) says she does not foresee any shortages in energy supply.
She told the news magazine “Focus” that the supply of gasoline and gas is secure. “Our energy supply chains are diversified” she added. “Less than eight per cent of Europe’s LNG imports come from the Persian Gulf, and only about five per cent of our oil imports do”.
Reiche also said that there are ample stocks of kerosene and diesel. “The situation in Asia is different, as it relies heavily on the Gulf region” she noted. “That’s why, together with the international community, we are cautiously releasing part of our reserves to ease shortages in the Asian market and to help stabilize global crude prices”.
