The IEA announced the possible restoration of supplies from the Persian Gulf in six months.
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- The IEA announced the possible restoration of supplies from the Persian Gulf in six months.
The resumption of stable oil and gas supplies from the Persian Gulf region may take up to six months. This was announced by the head of the International Energy Agency (IEA) Fatih Birol in an interview with the Financial Times (FT).
"Some energy facilities will take six months to resume operations, others much longer," Birol said.
He called the war that engulfed the region "the greatest global threat to energy security in history." The head of the IEA also noted that politicians and markets underestimate the scale of supply disruptions, since about a fifth of the world's oil and gas volumes are actually stuck in the region.
On the same day, FT reported on the preparation of international airlines for fuel shortages. According to Ben Smith, executive director of Air France-KLM, the companies are considering the option of reducing flights to Southeast Asia, which is "much more dependent on fuel supplies through the Persian Gulf than Europe."
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