Macron warns EU energy security is strained amid fuel shortages and geopolitical risks

President Emmanuel Macron wrote to the European Commission President regarding the strain on Europe’s energy security due to rising fuel prices and supply risks. Macron stated that the EU has relied heavily on buffers, such as stockpiles and refinery flexibility, rather than addressing underlying supply shocks. He warned that international supply has deteriorated due to infrastructure targeting in Russia and the Middle East, coupled with the recovery of consumption in Asia. As of September 22, 14 percent of gas stations in France were experiencing shortages or near-shortages.

The concerns center on the prolonged closure of the Strait of Hormuz and the renewed attacks on energy infrastructure in the Middle East. If the Hormuz closure persists and Saudi Arabia’s East-West pipeline does not resume operation, the depletion of Saudi stocks could remove at least another 4 million barrels from the market. Meanwhile, official French pump data showed that 16 percent of stations were short of at least one main fuel.