Spain secures 90-day kerosene supply for flights

Spain has sufficient kerosene reserves to supply its aviation sector this summer, even if foreign supplies were completely cut off.

The government has reassured the public amid tensions in energy markets stemming from the conflict in the Middle East. It estimates current stockpiles at around 90 days' worth of demand.

"Even if the border hypothetically closed tomorrow, which isn't going to happen, we could theoretically get through this summer," Energy Secretary Joan Groizard said on Monday.

Groizard stated that contracts with suppliers are not facing suspensions and that shipments are arriving at their destinations without incidents.

He also attributed this relative strength compared to other countries to Spain's prior work in adapting to its status as an "energy peninsula", which has allowed it to be less dependent on the Strait of Hormuz than other European partners.

However, the government has warned that this favourable position does not mean "immunity". The country is already exposed to a price crisis the duration of which is impossible to predict, with an economic impact that will persist even after the conflict ends, while infrastructure and trade flows undergo restoration.

In the European debate on supply guarantees, Spain is participating with a stance of solidarity with its partners, but "under the primary premise of guaranteeing its own supply". Groizard used the forum to advocate for the energy transition as the best safeguard against future crises.

Brussels has already estimated the cost of the current energy crisis for Europe at 30 billion euros. Groizard stated that every additional euro for fossil fuels that could have been replaced by indigenous sources prevents the country from becoming "stronger in the next crisis".

Nevertheless, he highlighted Spain's "competitive advantage" in renewable energy, which protects consumers' electricity bills, unlike what happened during the war in Ukraine.