‹ Back

 

Spain Backs EU Jet Fuel Sharing Plan as Supply Pressures Mount Across Europe

 

Madrid / 22 April 2026

 

Spain has signalled its support for a potential European Union plan to share jet fuel reserves and coordinate joint purchasing, as supply pressures intensify across the continent due to ongoing geopolitical tensions.

 

Energy Minister Sara Aagesen said Madrid is ready to play an active role in any coordinated EU response, ahead of expected discussions in Brussels on emergency measures to stabilise aviation fuel supplies.

 

Supply Concerns Grow Across Europe

The move comes amid growing concern within the aviation sector over potential jet fuel shortages linked to instability in the Middle East, particularly disruptions affecting routes through the Strait of Hormuz, a key global energy corridor.

 

The European Union is heavily dependent on imports from the Gulf region, which account for around three-quarters of its jet fuel supply. Any disruption to these flows has a direct impact on airline operations across Europe.

 

Industry leaders, including Willie Walsh of the International Air Transport Association, have warned that continued supply constraints could lead to flight cancellations as early as late spring, potentially affecting the peak summer travel season.

 

Spain in Strong Position

Despite wider European concerns, Spain is considered to be in a relatively strong position.

According to the government:

• Refinery output has increased significantly, in some cases by up to 60% above normal levels
• Jet fuel (kerosene) reserves are close to full capacity ahead of summer
• Supply sources are diversified, with strong links to the Americas and North Africa

 

Aagesen said Spain will participate actively in any EU initiative, adding that joint purchasing could strengthen negotiating power and help secure more stable prices.

 

Rising Imports from US and Nigeria

New market data shows Europe is already increasing imports from alternative suppliers:

• United States shipments have risen sharply, averaging up to 174,000 barrels per day in April
• Nigeria exports have reached record levels, supported by the expansion of the Dangote Refinery
• These shifts reflect efforts to reduce reliance on traditional Gulf suppliers and maintain fuel availability.

 

Stocks Fall Despite Increased Supply

However, despite rising imports, fuel inventories at the Amsterdam-Rotterdam-Antwerp storage hub have dropped to their lowest levels in four years, underlining ongoing supply pressures.

 

Jet fuel prices also remain elevated at around $175 per barrel, nearly double levels seen before the current crisis.

 

EU Response Under Consideration

• The European Commission is expected to explore:
• Shared strategic fuel reserves
• Joint purchasing mechanisms
• Coordinated supply management across member states

 

Spain’s backing signals growing support for a unified EU approach as the bloc seeks to avoid disruption during the busy summer travel period.

 

Big Picture

The situation highlights:

• Europe’s vulnerability to global energy shocks
• Increasing reliance on diversified supply chains
• The importance of coordinated EU action to protect aviation and tourism