European Union Does Not Worry About Energy Supply Security

The European Commission spokesperson Anna-Kaisa Itkonen answered questions from journalists about the impact of the military tension between the US and Iran on Europe's energy security during a daily press conference in Brussels.

Energy Supply Security

Itkonen stated that the situation in the region has been "extremely fragile and variable" for a long time and that the EU does not have any concerns about energy supply security under current conditions.

■There have been effects on energy prices.

■Serious fluctuations have been observed in energy prices.

Energy Prices

Itkonen recalled that the Petroleum Coordination Group meeting was held last week and that they continue to closely monitor price developments under current conditions, but it is difficult to make a definitive prediction for the upcoming period due to the uncertainty in the region.

Natural Gas Storage

Itkonen also made an assessment of the natural gas storage fill rates, stating that the current levels are below the pre-crisis averages.

■The low gas level in storage does not pose an immediate risk to energy security at this stage.

■Itkonen explained that, in coordination with EU member states, it is considered sufficient for natural gas storage to reach at least 80% fill rate before the winter season begins, and that the summer period is the time when storage is refilled.

Markets are highly sensitive to this situation and the effects of fluctuations in energy prices are being closely monitored.